Benjamin F. Edwards & Company Inc. Buys 102,429 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Benjamin F. Edwards & Company Inc. lifted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 496.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,056 shares of the asset manager's stock after acquiring an additional 102,429 shares during the quarter. Benjamin F. Edwards & Company Inc. owned approximately 0.06% of T. Rowe Price Group worth $13,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV boosted its position in T. Rowe Price Group by 83.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager's stock valued at $25,000 after acquiring an additional 106 shares during the last quarter. OFI Invest Asset Management acquired a new position in shares of T. Rowe Price Group during the third quarter valued at about $25,000. Park Place Capital Corp increased its holdings in shares of T. Rowe Price Group by 1,775.0% during the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager's stock valued at $32,000 after acquiring an additional 284 shares in the last quarter. Fortitude Family Office LLC bought a new stake in T. Rowe Price Group during the 4th quarter valued at $33,000. Finally, CVA Family Office LLC acquired a new position in shares of T. Rowe Price Group during the fourth quarter valued at about $39,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity at T. Rowe Price Group

In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm's stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the transaction, the director now directly owns 21,073 shares of the company's stock, valued at $2,493,357.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the firm's stock in a transaction on Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the transaction, the director now directly owns 34,635 shares of the company's stock, valued at approximately $3,916,525.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the company's stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the transaction, the director now directly owns 21,073 shares in the company, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,921 shares of company stock worth $1,500,133. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on TROW. Morgan Stanley raised their target price on T. Rowe Price Group from $114.00 to $125.00 and gave the company an "equal weight" rating in a report on Wednesday, April 17th. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an "underperform" rating to a "market perform" rating and boosted their price target for the stock from $106.00 to $120.00 in a report on Thursday, April 11th. Evercore ISI dropped their target price on shares of T. Rowe Price Group from $110.00 to $107.00 and set an "in-line" rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. boosted their target price on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an "underweight" rating in a research note on Tuesday, April 16th. Finally, StockNews.com downgraded T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Friday, February 9th. Four analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, T. Rowe Price Group currently has an average rating of "Hold" and a consensus target price of $112.10.

T. Rowe Price Group Stock Performance

NASDAQ:TROW traded up $0.34 during trading hours on Friday, reaching $111.50. The stock had a trading volume of 1,271,921 shares, compared to its average volume of 1,459,103. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $132.76. The stock has a 50 day simple moving average of $115.19 and a 200 day simple moving average of $107.28. The stock has a market cap of $24.90 billion, a P/E ratio of 13.24, a price-to-earnings-growth ratio of 1.91 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.04 by $0.34. The business had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The firm's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.69 EPS. On average, equities analysts expect that T. Rowe Price Group, Inc. will post 8.75 earnings per share for the current fiscal year.

T. Rowe Price Group 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.

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