Charles Schwab Investment Management Inc. Grows Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in T. Rowe Price Group by 7.2% in Q1, now owning approximately 3.50% of the company, valued at $707.97 million.
• Several other institutional investors, including Vanguard Group Inc. and UBS AM, also raised their positions, highlighting a robust interest in T. Rowe Price Group among large stakeholders.
• T. Rowe Price Group's stock recently reported an EPS of $2.24, beating expectations, while revenue saw a slight decline year-over-year despite steady market performance.

Charles Schwab Investment Management Inc. increased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 7.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,706,251 shares of the asset manager's stock after buying an additional 519,075 shares during the quarter. Charles Schwab Investment Management Inc. owned 3.50% of T. Rowe Price Group worth $707,973,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in TROW. Hexagon Capital Partners LLC raised its position in T. Rowe Price Group by 44.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock worth $34,000 after buying an additional 113 shares during the last quarter. Associated Banc Corp raised its position in T. Rowe Price Group by 0.5% during the 1st quarter. Associated Banc Corp now owns 24,864 shares of the asset manager's stock worth $2,284,000 after buying an additional 114 shares during the last quarter. Wealthcare Capital Partners LLC raised its position in T. Rowe Price Group by 1.2% during the 1st quarter. Wealthcare Capital Partners LLC now owns 9,429 shares of the asset manager's stock worth $866,000 after buying an additional 115 shares during the last quarter. Cullen Investment Group LTD. raised its position in T. Rowe Price Group by 0.9% during the 1st quarter. Cullen Investment Group LTD. now owns 13,554 shares of the asset manager's stock worth $1,245,000 after buying an additional 117 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in T. Rowe Price Group by 6.7% during the 1st quarter. Federated Hermes Inc. now owns 2,112 shares of the asset manager's stock worth $194,000 after buying an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

Insider Buying and Selling at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 968 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the sale, the insider owned 13,611 shares of the company's stock, valued at approximately $1,319,994.78. The trade was a 6.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Dorothy C. Sawyer sold 2,000 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total transaction of $190,860.00. Following the completion of the sale, the vice president directly owned 44,789 shares of the company's stock, valued at approximately $4,274,214.27. The trade was a 4.27% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TROW shares. Morgan Stanley raised their price target on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. Evercore ISI lifted their target price on shares of T. Rowe Price Group from $106.00 to $110.00 and gave the company an "in-line" rating in a report on Monday, August 4th. Wells Fargo & Company lifted their target price on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. JPMorgan Chase & Co. lifted their target price on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a report on Monday, August 4th. Finally, Cowen reaffirmed a "hold" rating on shares of T. Rowe Price Group in a report on Monday, May 5th. Four equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $101.09.

T. Rowe Price Group Price Performance

NASDAQ TROW traded up $1.00 on Friday, hitting $105.06. The company had a trading volume of 1,209,678 shares, compared to its average volume of 1,864,028. The company has a market capitalization of $23.08 billion, a PE ratio of 11.74, a PEG ratio of 2.86 and a beta of 1.47. The company's fifty day moving average price is $99.50 and its 200-day moving average price is $98.04. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, topping the consensus estimate of $2.15 by $0.09. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The firm's revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.26 EPS. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.