ICW Investment Advisors LLC Acquires 261 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

ICW Investment Advisors LLC boosted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 10.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,648 shares of the asset manager’s stock after buying an additional 261 shares during the quarter. ICW Investment Advisors LLC’s holdings in T. Rowe Price Group were worth $285,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TROW. Simplicity Solutions LLC grew its position in shares of T. Rowe Price Group by 3.4% in the 3rd quarter. Simplicity Solutions LLC now owns 3,391 shares of the asset manager’s stock worth $356,000 after buying an additional 112 shares during the period. Commonwealth Equity Services LLC increased its stake in T. Rowe Price Group by 1.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 176,709 shares of the asset manager’s stock valued at $18,532,000 after purchasing an additional 2,104 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in T. Rowe Price Group by 98.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 76,509 shares of the asset manager’s stock valued at $8,024,000 after purchasing an additional 37,960 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of T. Rowe Price Group by 282.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 201,435 shares of the asset manager’s stock valued at $21,124,000 after acquiring an additional 148,787 shares during the last quarter. Finally, Xponance Inc. boosted its holdings in shares of T. Rowe Price Group by 4.6% during the 3rd quarter. Xponance Inc. now owns 30,993 shares of the asset manager’s stock valued at $3,250,000 after acquiring an additional 1,353 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Insider Activity

In other news, 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 transaction of $1,034,116.80. Following the sale, the director now owns 21,073 shares in the company, valued at $2,493,357.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Jessica M. Hiebler sold 1,138 shares of the business’s 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 owns 14,113 shares in the company, valued at $1,511,925.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the business’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 completion of the sale, the director now owns 21,073 shares in the company, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. Insiders have sold a total of 12,921 shares of company stock worth $1,500,133 over the last quarter. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

TROW has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. JPMorgan Chase & Co. raised their price objective on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Evercore ISI dropped their price objective 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. Citigroup raised their price objective on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Finally, Morgan Stanley raised their price objective on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 17th. Four equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $112.10.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $110.30 on Thursday. The stock has a market cap of $24.63 billion, a P/E ratio of 13.10, a PEG ratio of 1.91 and a beta of 1.40. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $132.76. The firm’s 50 day moving average price is $115.19 and its 200-day moving average price is $107.25.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data 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 firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.69 earnings per share. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 8.67 EPS for the current year.

About T. Rowe Price Group

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.