Great Valley Advisor Group Inc. Has $488,000 Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Great Valley Advisor Group Inc. cut its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 15.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,534 shares of the asset manager’s stock after selling 822 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in T. Rowe Price Group were worth $488,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of TROW. Raymond James Financial Services Advisors Inc. boosted its stake in T. Rowe Price Group by 5.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 203,529 shares of the asset manager’s stock valued at $21,344,000 after buying an additional 10,602 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of T. Rowe Price Group by 19.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,659 shares of the asset manager’s stock valued at $7,305,000 after purchasing an additional 11,354 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its stake in shares of T. Rowe Price Group by 6.3% during the third quarter. Pinnacle Wealth Management Advisory Group LLC now owns 6,181 shares of the asset manager’s stock valued at $648,000 after purchasing an additional 364 shares in the last quarter. DMC Group LLC boosted its stake in shares of T. Rowe Price Group by 15.2% during the third quarter. DMC Group LLC now owns 3,175 shares of the asset manager’s stock valued at $333,000 after purchasing an additional 419 shares in the last quarter. Finally, IFM Investors Pty Ltd boosted its stake in shares of T. Rowe Price Group by 3.0% during the third quarter. IFM Investors Pty Ltd now owns 44,553 shares of the asset manager’s stock valued at $4,672,000 after purchasing an additional 1,281 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TROW. Citigroup lifted their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. TD Cowen raised T. Rowe Price Group from a “sell” rating to a “hold” rating and lifted their price target for the company from $92.00 to $114.00 in a research note on Monday, April 8th. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Wells Fargo & Company raised their price objective on T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a research report on Friday, February 9th. Finally, Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and raised their price objective for the stock 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 issued a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $112.10.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $111.50 on Monday. The company has a market cap of $24.90 billion, a P/E ratio of 13.24, a PEG ratio of 1.93 and a beta of 1.40. The stock 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 fifty-two week low of $87.43 and a fifty-two week high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.69 earnings per share. On average, research analysts predict that T. Rowe Price Group, Inc. will post 8.75 earnings per share for the current year.

Insider Activity

In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 21,073 shares in the company, valued at $2,493,357.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group 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 transaction, the director now directly owns 21,073 shares in the company, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. Insiders sold a total of 12,921 shares of company stock worth $1,500,133 over the last quarter. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group 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.