T. Rowe Price Group, Inc. (NASDAQ:TROW) Stake Increased by Nilsine Partners LLC

Nilsine Partners LLC raised its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 75.5% during the fourth quarter, HoldingsChannel reports. The fund owned 5,509 shares of the asset manager’s stock after acquiring an additional 2,370 shares during the quarter. Nilsine Partners LLC’s holdings in T. Rowe Price Group were worth $623,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in TROW. Iron Horse Wealth Management LLC grew its holdings in shares of T. Rowe Price Group by 90.9% during 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. Hexagon Capital Partners LLC boosted its position in T. Rowe Price Group by 54.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 104 shares during the period. True Wealth Design LLC acquired a new position in T. Rowe Price Group during the 3rd quarter valued at approximately $37,000. Larson Financial Group LLC grew its stake in T. Rowe Price Group by 866.7% during the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after buying an additional 312 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in T. Rowe Price Group in the third quarter worth $43,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Evercore ISI increased their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. cut their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Morgan Stanley boosted their price target on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Finally, Wells Fargo & Company lowered their price target on T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and an average target price of $115.82.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction 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 completion of the sale, the vice president now owns 119,577 shares of the company’s stock, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

TROW stock opened at $115.65 on Wednesday. The firm has a market capitalization of $25.69 billion, a P/E ratio of 12.65, a P/E/G ratio of 1.68 and a beta of 1.43. T. Rowe Price Group, Inc. has a 52-week low of $100.49 and a 52-week high of $125.81. The company’s 50 day simple moving average is $117.12 and its 200-day simple moving average is $112.74.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.21. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.17 EPS. Sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.45 EPS for the current fiscal 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.