PYA Waltman Capital LLC Boosts Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

PYA Waltman Capital LLC grew its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 15.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 13,493 shares of the asset manager’s stock after acquiring an additional 1,829 shares during the period. PYA Waltman Capital LLC’s holdings in T. Rowe Price Group were worth $1,453,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new position in shares of T. Rowe Price Group during the 3rd quarter worth approximately $25,000. Creative Financial Designs Inc. ADV boosted its position in shares of T. Rowe Price Group by 83.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after purchasing an additional 106 shares in the last quarter. Park Place Capital Corp boosted its position in shares of T. Rowe Price Group by 1,775.0% in the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after purchasing an additional 284 shares in the last quarter. Fortitude Family Office LLC bought a new stake in shares of T. Rowe Price Group in the 4th quarter worth approximately $33,000. Finally, NBC Securities Inc. bought a new stake in shares of T. Rowe Price Group in the 3rd quarter worth approximately $39,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the sale, the director now owns 21,073 shares in the company, valued at approximately $2,493,357.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the sale, the director now owns 34,635 shares in the company, valued at approximately $3,916,525.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the sale, the director now owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,921 shares of company stock worth $1,500,133. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Morgan Stanley boosted their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Evercore ISI lowered their price objective on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. upped their price objective on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $106.00 to $120.00 in a research report on Thursday, April 11th. Four equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $112.10.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW traded up $0.60 during midday trading on Wednesday, hitting $110.17. The company had a trading volume of 385,881 shares, compared to its average volume of 1,440,525. The company has a market cap of $24.60 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 2.08 and a beta of 1.40. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $132.76. The company has a fifty day moving average of $115.17 and a two-hundred day moving average of $107.23.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, topping the consensus estimate of $2.04 by $0.34. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. T. Rowe Price Group’s revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.69 EPS. Research analysts expect that T. Rowe Price Group, Inc. will post 8.45 earnings per share 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.