Los Angeles Capital Management LLC Makes New $5.82 Million Investment in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Los Angeles Capital Management LLC acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 54,006 shares of the asset manager's stock, valued at approximately $5,816,000.

Several other hedge funds also recently modified their holdings of TROW. OFI Invest Asset Management bought a new stake in T. Rowe Price Group during the 3rd quarter valued at $25,000. Creative Financial Designs Inc. ADV boosted its holdings in T. Rowe Price Group by 83.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager's stock worth $25,000 after acquiring an additional 106 shares during the last quarter. Park Place Capital Corp boosted its holdings in T. Rowe Price Group by 1,775.0% during the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager's stock worth $32,000 after acquiring an additional 284 shares during the last quarter. Fortitude Family Office LLC purchased a new position in T. Rowe Price Group during the 4th quarter worth $33,000. Finally, NBC Securities Inc. purchased a new position in T. Rowe Price Group during the 3rd quarter worth $39,000. Institutional investors own 73.39% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on TROW. Citigroup lifted their price objective on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a "neutral" rating in a report on Friday, April 5th. Evercore ISI cut their price objective on shares of T. Rowe Price Group from $110.00 to $107.00 and set an "in-line" rating on the stock in a report on Tuesday, April 30th. UBS Group boosted their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a "sell" rating in a report on Friday, April 12th. Morgan Stanley boosted their price target on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 17th. Finally, Wells Fargo & Company boosted their price target on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the stock an "underweight" rating in a report on Friday, February 9th. Four equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $112.10.

T. Rowe Price Group Stock Performance

TROW traded up $0.51 on Monday, reaching $112.01. The company had a trading volume of 1,052,775 shares, compared to its average volume of 1,454,422. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $132.76. The company has a market cap of $25.01 billion, a price-to-earnings ratio of 13.30, a P/E/G ratio of 1.93 and a beta of 1.40. The business has a 50 day simple moving average of $115.20 and a 200 day simple moving average of $107.47.

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

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,043 shares of the company's stock in a transaction dated Monday, April 29th. The stock was 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 in the company, valued at approximately $3,916,525.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the company's stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the sale, the director now owns 34,635 shares of the company's stock, valued at $3,916,525.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 1,138 shares of the company's stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the sale, the insider now directly owns 14,113 shares of the company's stock, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. Insiders have sold 12,921 shares of company stock worth $1,500,133 over the last 90 days. Corporate insiders own 2.00% of the company's stock.

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.