Wealthcare Capital Partners LLC Makes New Investment in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Wealthcare Capital Partners LLC purchased a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the fourth quarter, Holdings Channel.com reports. The fund purchased 9,314 shares of the asset manager’s stock, valued at approximately $1,053,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Iron Horse Wealth Management LLC raised its position in T. Rowe Price Group by 90.9% in the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 110 shares during the last quarter. Y.D. More Investments Ltd increased its holdings in T. Rowe Price Group by 124.0% in the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 155 shares during the period. Stonebridge Financial Group LLC bought a new position in T. Rowe Price Group during the 4th quarter worth $32,000. True Wealth Design LLC acquired a new position in T. Rowe Price Group during the 3rd quarter worth about $37,000. Finally, Larson Financial Group LLC grew its position in shares of T. Rowe Price Group by 866.7% in the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after buying an additional 312 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’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 transaction, the vice president now directly owns 119,577 shares of the company’s stock, valued at $14,749,822.95. This trade represents 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. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TROW shares. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Evercore ISI increased their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. 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 report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, Barclays lowered their target price on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and a consensus target price of $115.09.

T. Rowe Price Group Stock Down 0.5 %

Shares of TROW opened at $109.62 on Tuesday. The stock has a market cap of $24.35 billion, a P/E ratio of 11.97, a P/E/G ratio of 1.70 and a beta of 1.44. The business’s fifty day moving average is $115.78 and its 200 day moving average is $112.54. 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 Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.61%. During the same quarter in the prior year, the company earned $1.72 EPS. On average, analysts expect that T. Rowe Price Group, Inc. will post 9.36 EPS for the current year.

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.