Symphony Financial Ltd. Co. Grows Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Symphony Financial Ltd. Co. lifted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 64.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 17,137 shares of the asset manager’s stock after acquiring an additional 6,742 shares during the period. Symphony Financial Ltd. Co.’s holdings in T. Rowe Price Group were worth $1,935,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nilsine Partners LLC increased its stake in T. Rowe Price Group by 75.5% during the 4th quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock valued at $623,000 after purchasing an additional 2,370 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of T. Rowe Price Group by 2.8% in the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock valued at $30,062,000 after acquiring an additional 7,503 shares during the period. Janus Henderson Group PLC increased its position in shares of T. Rowe Price Group by 3.8% in the 3rd quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock valued at $3,267,000 after acquiring an additional 1,100 shares during the period. Aigen Investment Management LP purchased a new position in T. Rowe Price Group in the 3rd quarter worth $516,000. Finally, Charles Schwab Investment Management Inc. lifted its position in T. Rowe Price Group by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after acquiring an additional 231,286 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $116.92 on Friday. T. Rowe Price Group, Inc. has a fifty-two week low of $100.49 and a fifty-two week high of $125.81. The company has a market cap of $25.97 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 1.74 and a beta of 1.43. The firm has a 50-day simple moving average of $116.90 and a two-hundred day simple moving average of $112.75.

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

Insider Transactions at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the sale, the vice president now owns 119,577 shares of the company’s stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

TROW has been the topic of a number of research reports. Evercore ISI increased their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. StockNews.com upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a report on Saturday, January 25th. Keefe, Bruyette & Woods decreased their price objective on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. Wells Fargo & Company cut their price objective on shares of T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Finally, TD Cowen decreased their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, T. Rowe Price Group has a consensus rating of “Hold” and a consensus target price of $115.82.

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.