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

Benjamin F. Edwards & Company Inc. lifted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 496.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 123,056 shares of the asset manager’s stock after acquiring an additional 102,429 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in T. Rowe Price Group were worth $13,252,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TROW. Clear Harbor Asset Management LLC boosted its stake in T. Rowe Price Group by 3.2% in the 4th quarter. Clear Harbor Asset Management LLC now owns 3,240 shares of the asset manager’s stock worth $349,000 after purchasing an additional 100 shares during the period. Caprock Group LLC boosted its holdings in shares of T. Rowe Price Group by 4.7% during the 4th quarter. Caprock Group LLC now owns 2,251 shares of the asset manager’s stock valued at $242,000 after purchasing an additional 101 shares during the last quarter. Roundview Capital LLC grew its position in shares of T. Rowe Price Group by 0.5% during the third quarter. Roundview Capital LLC now owns 22,279 shares of the asset manager’s stock valued at $2,336,000 after purchasing an additional 105 shares in the last quarter. Creative Financial Designs Inc. ADV increased its stake in T. Rowe Price Group by 83.5% in 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. Finally, Simplicity Solutions LLC increased its position in T. Rowe Price Group by 3.4% in the third quarter. Simplicity Solutions LLC now owns 3,391 shares of the asset manager’s stock worth $356,000 after purchasing an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

TROW traded up $0.34 on Friday, reaching $111.50. 1,271,921 shares of the stock were exchanged, compared to its average volume of 1,459,103. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $132.76. The firm has a market capitalization of $24.90 billion, a PE ratio of 13.24, a PEG ratio of 1.91 and a beta of 1.40. The company’s 50-day moving average price is $115.19 and its 200 day moving average price is $107.28.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. T. Rowe Price Group’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period last year, the firm posted $1.69 EPS. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 8.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Evercore ISI reduced 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 report on Tuesday. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Morgan Stanley lifted their target price on 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. Wells Fargo & Company increased their price target on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of 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. Four 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 stock presently has an average rating of “Hold” and a consensus target price of $112.10.

Insider Transactions at T. Rowe Price Group

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

About T. Rowe Price Group

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.