Donoghue Forlines LLC Has $1.43 Million Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Key Points

• Donoghue Forlines LLC increased its investment in T. Rowe Price Group, Inc. by 21.8% during the first quarter, now holding shares valued at $1.43 million.
• Major institutional investors like Hexagon Capital Partners and Associated Banc Corp have also raised their positions in T. Rowe Price Group, contributing to a total of 73.39% of the stock being owned by institutional investors.
• T. Rowe Price Group recently reported an earnings per share (EPS) of $2.24 for the last quarter, surpassing analysts' expectations of $2.15, despite a 0.6% year-over-year revenue decline.

Donoghue Forlines LLC lifted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 21.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,597 shares of the asset manager's stock after purchasing an additional 2,791 shares during the quarter. Donoghue Forlines LLC's holdings in T. Rowe Price Group were worth $1,433,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TROW. Zions Bancorporation National Association UT bought a new stake in T. Rowe Price Group in the 1st quarter worth about $27,000. Hexagon Capital Partners LLC boosted 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 valued at $34,000 after buying an additional 113 shares during the period. Smallwood Wealth Investment Management LLC purchased a new stake in shares of T. Rowe Price Group in the 1st quarter worth about $39,000. Chilton Capital Management LLC purchased a new position in T. Rowe Price Group in the first quarter worth about $41,000. Finally, Ameriflex Group Inc. bought a new stake in shares of T. Rowe Price Group in the fourth quarter worth approximately $42,000. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Trading Up 1.0%

Shares of NASDAQ:TROW traded up $1.00 during mid-day trading on Friday, reaching $105.06. The company had a trading volume of 1,209,678 shares, compared to its average volume of 1,847,516. The company's 50-day moving average price is $99.50 and its 200-day moving average price is $97.93. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The firm has a market cap of $23.08 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 2.86 and a beta of 1.47.

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

Insider Activity

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were 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 owned 44,789 shares in the company, valued at approximately $4,274,214.27. The trade was a 4.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 968 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the transaction, the insider directly owned 13,611 shares in the company, valued at approximately $1,319,994.78. This trade represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Analyst Ratings Changes

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

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.