Legacy Financial Advisors Inc. Buys 1,048 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Legacy Financial Advisors Inc. increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 16.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,280 shares of the asset manager’s stock after acquiring an additional 1,048 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in T. Rowe Price Group were worth $784,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in shares of T. Rowe Price Group during the third quarter worth about $25,000. Creative Financial Designs Inc. ADV increased its stake in T. Rowe Price Group by 83.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after purchasing an additional 106 shares in the last quarter. Park Place Capital Corp increased its stake in T. Rowe Price Group by 1,775.0% during the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after purchasing an additional 284 shares in the last quarter. Fortitude Family Office LLC bought a new stake in T. Rowe Price Group during the 4th quarter worth approximately $33,000. Finally, NBC Securities Inc. bought a new stake in T. Rowe Price Group during the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity

In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’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 of the company’s stock, valued at approximately $2,493,357.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction 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 completion of the sale, the insider now owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 on Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the sale, the director now directly owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,921 shares of company stock valued at $1,500,133. 2.00% of the stock is owned by insiders.

T. Rowe Price Group Stock Up 0.3 %

Shares of NASDAQ TROW traded up $0.34 during trading hours on Friday, hitting $111.50. The company had a trading volume of 1,271,965 shares, compared to its average volume of 1,679,318. The stock has a market capitalization of $24.90 billion, a P/E ratio of 13.24, a price-to-earnings-growth ratio of 1.92 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 is $115.19 and its 200-day moving average is $107.28.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, beating the consensus estimate of $2.04 by $0.34. The company 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.69 EPS. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 8.75 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TROW. TD Cowen raised T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their target price for the stock from $92.00 to $114.00 in a research note on Monday, April 8th. UBS Group increased their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. Citigroup increased their target price on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Evercore ISI decreased their price target on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research note on Tuesday. Finally, Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. Four investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $112.10.

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.