Fidelis Capital Partners LLC Invests $540,000 in T. Rowe Price Group, Inc. $TROW

Fidelis Capital Partners LLC bought a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,258 shares of the asset manager’s stock, valued at approximately $540,000.

Several other hedge funds also recently added to or reduced their stakes in TROW. Woodline Partners LP grew its holdings in T. Rowe Price Group by 41.0% during the first quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock worth $1,728,000 after acquiring an additional 5,467 shares during the period. Focus Partners Wealth increased its holdings in shares of T. Rowe Price Group by 10.6% during the 1st quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock valued at $1,199,000 after purchasing an additional 1,250 shares in the last quarter. GC Wealth Management RIA LLC purchased a new position in shares of T. Rowe Price Group during the 2nd quarter valued at approximately $221,000. PFG Investments LLC acquired a new stake in T. Rowe Price Group during the second quarter valued at $207,000. Finally, Bartlett & CO. Wealth Management LLC raised its position in shares of T. Rowe Price Group by 12.1% in the second quarter. Bartlett & CO. Wealth Management LLC now owns 2,212 shares of the asset manager’s stock worth $213,000 after acquiring an additional 238 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $105.68 on Friday. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $118.32. The firm has a market capitalization of $23.06 billion, a PE ratio of 11.51, a P/E/G ratio of 2.54 and a beta of 1.52. The business’s 50 day moving average price is $104.67 and its 200-day moving average price is $104.65.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, beating the consensus estimate of $2.55 by $0.26. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.The firm’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.57 EPS. As a group, analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

Insider Activity at T. Rowe Price Group

In other news, VP Arif Husain sold 4,260 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total value of $434,349.60. Following the transaction, the vice president directly owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. This trade represents a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. BMO Capital Markets lifted their price target on T. Rowe Price Group from $108.00 to $110.00 and gave the company a “market perform” rating in a research note on Tuesday, January 13th. TD Cowen dropped their price objective on T. Rowe Price Group from $112.00 to $109.00 and set a “hold” rating on the stock in a report on Wednesday, January 14th. Jefferies Financial Group boosted their price objective on T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a research report on Tuesday, October 7th. Zacks Research lowered T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Finally, JPMorgan Chase & Co. cut their price target on shares of T. Rowe Price Group from $111.00 to $108.00 and set an “underweight” rating for the company in a report on Tuesday, January 20th. Eleven research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, T. Rowe Price Group has a consensus rating of “Reduce” and an average price target of $107.31.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.