Avior Wealth Management LLC Acquires 994 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Avior Wealth Management LLC boosted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 487.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,198 shares of the asset manager’s stock after purchasing an additional 994 shares during the quarter. Avior Wealth Management LLC’s holdings in T. Rowe Price Group were worth $135,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TROW. APG Asset Management N.V. raised its holdings in shares of T. Rowe Price Group by 205.9% in the 2nd quarter. APG Asset Management N.V. now owns 26,742 shares of the asset manager’s stock worth $2,877,000 after buying an additional 18,000 shares in the last quarter. Mackenzie Financial Corp increased its holdings in T. Rowe Price Group by 19.2% during the 2nd quarter. Mackenzie Financial Corp now owns 30,085 shares of the asset manager’s stock valued at $3,469,000 after purchasing an additional 4,841 shares in the last quarter. Creative Planning increased its holdings in T. Rowe Price Group by 5.4% during the 2nd quarter. Creative Planning now owns 55,147 shares of the asset manager’s stock valued at $6,359,000 after purchasing an additional 2,827 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in T. Rowe Price Group by 0.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 23,910 shares of the asset manager’s stock valued at $2,757,000 after buying an additional 118 shares during the last quarter. Finally, Quarry LP bought a new position in T. Rowe Price Group in the 2nd quarter valued at $86,000. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

TROW stock opened at $115.65 on Wednesday. The stock has a market capitalization of $25.69 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 1.68 and a beta of 1.43. The company’s 50-day moving average is $117.12 and its 200-day moving average is $112.74. T. Rowe Price Group, Inc. has a 1 year low of $100.49 and a 1 year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter last year, the firm earned $2.17 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, analysts anticipate that T. Rowe Price Group, Inc. will post 9.45 earnings per share for the current fiscal year.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the sale, the vice president now owns 119,577 shares in the company, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on TROW. The Goldman Sachs Group decreased their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. Evercore ISI increased their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Wells Fargo & Company reduced their price target on T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Barclays reduced their price target on T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Finally, Morgan Stanley raised their price target on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $115.82.

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.