Wealth Advisors of Tampa Bay LLC Purchases New Stake in T. Rowe Price Group Inc (TROW)

Wealth Advisors of Tampa Bay LLC purchased a new stake in T. Rowe Price Group Inc (NASDAQ:TROW) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,285 shares of the asset manager’s stock, valued at approximately $581,000.

Several other large investors have also recently added to or reduced their stakes in TROW. JPMorgan Chase & Co. increased its position in T. Rowe Price Group by 1.9% during the third quarter. JPMorgan Chase & Co. now owns 11,974,559 shares of the asset manager’s stock worth $1,079,267,000 after acquiring an additional 218,211 shares during the period. Ameriprise Financial Inc. increased its position in T. Rowe Price Group by 11.4% during the third quarter. Ameriprise Financial Inc. now owns 1,782,523 shares of the asset manager’s stock worth $161,591,000 after acquiring an additional 182,317 shares during the period. Provident Trust Co. increased its position in T. Rowe Price Group by 1.3% during the fourth quarter. Provident Trust Co. now owns 1,544,881 shares of the asset manager’s stock worth $162,104,000 after acquiring an additional 19,296 shares during the period. Legal & General Group Plc increased its position in T. Rowe Price Group by 3.1% during the third quarter. Legal & General Group Plc now owns 1,362,609 shares of the asset manager’s stock worth $123,520,000 after acquiring an additional 40,688 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in T. Rowe Price Group by 5.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,312,349 shares of the asset manager’s stock worth $137,705,000 after acquiring an additional 65,387 shares during the period. 71.89% of the stock is currently owned by institutional investors.

In other news, CEO William J. Stromberg sold 30,000 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $97.09, for a total value of $2,912,700.00. Following the sale, the chief executive officer now owns 534,077 shares in the company, valued at approximately $51,853,535.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kenneth V. Moreland sold 14,419 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $97.07, for a total transaction of $1,399,652.33. Following the completion of the sale, the chief financial officer now owns 125,264 shares in the company, valued at approximately $12,159,376.48. The disclosure for this sale can be found here. Insiders sold a total of 204,980 shares of company stock worth $20,776,729 in the last 90 days. 3.60% of the stock is owned by corporate insiders.

Shares of T. Rowe Price Group Inc (NASDAQ:TROW) opened at $103.41 on Monday. The stock has a market cap of $25,057.28, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 1.32 and a beta of 1.28. T. Rowe Price Group Inc has a fifty-two week low of $66.70 and a fifty-two week high of $120.07.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Tuesday, January 30th. The asset manager reported $1.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.04. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.27 billion. T. Rowe Price Group had a net margin of 31.07% and a return on equity of 25.30%. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.21 EPS. equities analysts anticipate that T. Rowe Price Group Inc will post 6.91 earnings per share for the current year.

TROW has been the topic of a number of research reports. Zacks Investment Research lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Citigroup boosted their target price on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. UBS Group boosted their target price on shares of T. Rowe Price Group from $69.00 to $72.00 and gave the stock a “sell” rating in a research report on Friday, October 27th. Bank of America raised shares of T. Rowe Price Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $113.00 to $125.00 in a research report on Monday, January 8th. Finally, Barclays boosted their target price on shares of T. Rowe Price Group from $79.00 to $84.00 and gave the stock an “underweight” rating in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. T. Rowe Price Group has an average rating of “Hold” and an average target price of $98.70.

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T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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