Capital Investment Advisory Services LLC Buys 150 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Capital Investment Advisory Services LLC raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.0% in the 4th quarter, HoldingsChannel reports. The firm owned 5,228 shares of the asset manager’s stock after acquiring an additional 150 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in T. Rowe Price Group were worth $591,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TROW. Creative Planning increased its position in shares of T. Rowe Price Group by 5.4% during the second quarter. Creative Planning now owns 55,147 shares of the asset manager’s stock worth $6,359,000 after acquiring an additional 2,827 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of T. Rowe Price Group by 0.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 23,910 shares of the asset manager’s stock worth $2,757,000 after acquiring an additional 118 shares in the last quarter. Quarry LP bought a new stake in shares of T. Rowe Price Group during the second quarter worth about $86,000. EP Wealth Advisors LLC bought a new stake in shares of T. Rowe Price Group during the second quarter worth about $419,000. Finally, Cetera Investment Advisers increased its position in shares of T. Rowe Price Group by 3.2% during the second quarter. Cetera Investment Advisers now owns 44,646 shares of the asset manager’s stock worth $5,148,000 after acquiring an additional 1,385 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Trading Up 1.4 %

Shares of TROW stock opened at $115.89 on Friday. The stock has a market capitalization of $25.75 billion, a P/E ratio of 12.68, a PEG ratio of 1.74 and a beta of 1.43. The firm’s 50 day moving average is $117.01 and its 200 day moving average is $112.74. T. Rowe Price Group, Inc. has a 12 month low of $100.49 and a 12 month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. T. Rowe Price Group’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.17 EPS. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 9.42 EPS for the current year.

Wall Street Analysts Forecast Growth

TROW has been the subject of several recent research reports. The Goldman Sachs Group decreased their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research report on Thursday, October 3rd. Barclays dropped their target price on shares of T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Evercore ISI boosted their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods dropped their target price on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th. Finally, TD Cowen dropped their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $115.82.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the sale, the vice president now owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.00% of the stock is currently owned by 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.