First Trust Direct Indexing L.P. Purchases 248 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

First Trust Direct Indexing L.P. grew its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,285 shares of the asset manager’s stock after buying an additional 248 shares during the period. First Trust Direct Indexing L.P.’s holdings in T. Rowe Price Group were worth $461,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. OFI Invest Asset Management bought a new stake in T. Rowe Price Group during the third quarter valued at $25,000. Creative Financial Designs Inc. ADV lifted its position in T. Rowe Price Group by 83.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 106 shares during the last quarter. Park Place Capital Corp grew its stake in 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 buying an additional 284 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in shares of T. Rowe Price Group during the 4th quarter valued at $33,000. Finally, NBC Securities Inc. purchased a new position in T. Rowe Price Group in the third quarter worth $39,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $111.50 on Monday. The stock has a market capitalization of $24.90 billion, a PE ratio of 13.24, a P/E/G ratio of 1.93 and a beta of 1.40. The business has a 50 day simple moving average of $115.20 and a two-hundred day simple moving average of $107.47. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.34. The business 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%. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.69 earnings per share. On average, analysts anticipate that T. Rowe Price Group, Inc. will post 8.75 EPS for the current fiscal year.

Analyst Ratings Changes

TROW has been the subject of several research analyst reports. Citigroup lifted their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $92.00 to $114.00 in a report on Monday, April 8th. Evercore ISI reduced their target price on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a report on Tuesday, April 30th. Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. Finally, StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Four investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $112.10.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the transaction, the director now directly owns 21,073 shares in the company, valued at approximately $2,493,357.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the sale, the insider now directly owns 14,113 shares in the company, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. Insiders sold a total of 12,921 shares of company stock valued at $1,500,133 in the last three months. Company insiders own 2.00% of the company’s stock.

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.