Transcend Capital Advisors LLC Invests $612,000 in T. Rowe Price Group, Inc. $TROW

Transcend Capital Advisors LLC bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,961 shares of the asset manager’s stock, valued at approximately $612,000.

A number of other large investors have also recently made changes to their positions in the stock. First Trust Advisors LP raised its position in T. Rowe Price Group by 137.7% in the second quarter. First Trust Advisors LP now owns 3,441,458 shares of the asset manager’s stock worth $332,101,000 after acquiring an additional 1,993,920 shares during the period. Norges Bank bought a new position in shares of T. Rowe Price Group in the second quarter worth about $82,756,000. ARGA Investment Management LP lifted its stake in T. Rowe Price Group by 3,807.3% in the second quarter. ARGA Investment Management LP now owns 477,161 shares of the asset manager’s stock worth $46,046,000 after acquiring an additional 464,949 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in T. Rowe Price Group during the second quarter valued at about $37,722,000. Finally, ProShare Advisors LLC grew its position in T. Rowe Price Group by 21.7% during the 2nd quarter. ProShare Advisors LLC now owns 1,887,935 shares of the asset manager’s stock worth $182,186,000 after purchasing an additional 337,112 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on TROW. Evercore ISI raised their target price on T. Rowe Price Group from $115.00 to $116.00 in a research report on Monday, January 12th. JPMorgan Chase & Co. decreased their price objective on shares of T. Rowe Price Group from $111.00 to $108.00 and set an “underweight” rating for the company in a research note on Tuesday, January 20th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of T. Rowe Price Group in a report on Monday, December 29th. Zacks Research downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Finally, BMO Capital Markets upped their price target on T. Rowe Price Group from $108.00 to $110.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 13th. Eleven equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $107.31.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Arif Husain sold 4,260 shares of T. Rowe Price Group stock in a transaction on 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 owned 47,102 shares in the company, valued at $4,802,519.92. This trade represents a 8.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $106.65 on Tuesday. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $118.22. The firm has a market capitalization of $23.27 billion, a price-to-earnings ratio of 11.62, a price-to-earnings-growth ratio of 2.56 and a beta of 1.52. The business has a 50 day simple moving average of $104.80 and a 200 day simple moving average of $104.69.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period last year, the firm posted $2.57 earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

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.