McKinley Carter Wealth Services Inc. Purchases 153 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

McKinley Carter Wealth Services Inc. raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,945 shares of the asset manager’s stock after acquiring an additional 153 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in T. Rowe Price Group were worth $1,577,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Iron Horse Wealth Management LLC grew its holdings in T. Rowe Price Group by 90.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after buying an additional 110 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in shares of T. Rowe Price Group by 54.7% in the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 104 shares in the last quarter. True Wealth Design LLC bought a new position in T. Rowe Price Group during the third quarter worth about $37,000. Larson Financial Group LLC increased its position in T. Rowe Price Group by 866.7% during the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after acquiring an additional 312 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in T. Rowe Price Group in the 3rd quarter worth about $43,000. Institutional investors own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction that occurred on 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 directly owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TROW. Barclays cut their price target on shares of T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating for the company in a report on Friday, January 17th. Keefe, Bruyette & Woods cut their target price on T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. Morgan Stanley boosted their price target on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft raised their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, TD Cowen lowered their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, T. Rowe Price Group presently has an average rating of “Hold” and a consensus target price of $115.82.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $115.65 on Wednesday. T. Rowe Price Group, Inc. has a 52-week low of $100.49 and a 52-week high of $125.81. The company 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 business’s fifty day moving average is $117.07 and its 200 day moving average is $112.73.

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

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.