Malaga Cove Capital LLC Boosts Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Malaga Cove Capital LLC raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 8.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,999 shares of the asset manager’s stock after purchasing an additional 1,125 shares during the period. Malaga Cove Capital LLC’s holdings in T. Rowe Price Group were worth $1,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in TROW. Simplicity Solutions LLC increased its holdings in T. Rowe Price Group by 3.4% in the third quarter. Simplicity Solutions LLC now owns 3,391 shares of the asset manager’s stock valued at $356,000 after buying an additional 112 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of T. Rowe Price Group by 1.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 176,709 shares of the asset manager’s stock valued at $18,532,000 after acquiring an additional 2,104 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of 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 worth $8,024,000 after acquiring an additional 37,960 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in T. Rowe Price Group by 282.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 201,435 shares of the asset manager’s stock worth $21,124,000 after purchasing an additional 148,787 shares during the last quarter. Finally, Xponance Inc. boosted its holdings in T. Rowe Price Group by 4.6% in the third quarter. Xponance Inc. now owns 30,993 shares of the asset manager’s stock valued at $3,250,000 after purchasing an additional 1,353 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

TROW has been the subject of several recent analyst reports. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $92.00 to $114.00 in a research report on Monday, April 8th. Wells Fargo & Company upped their price objective on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a research note on Friday, February 9th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Morgan Stanley upped their target price on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. lifted their price target on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. Four research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $112.10.

T. Rowe Price Group Trading Up 0.3 %

Shares of T. Rowe Price Group stock traded up $0.34 during trading hours on Friday, hitting $111.50. 1,271,965 shares of the company were exchanged, compared to its average volume of 1,679,318. The business has a 50-day moving average of $115.20 and a 200-day moving average of $107.36. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $132.76. The stock has a market capitalization of $24.90 billion, a price-to-earnings ratio of 13.24, a P/E/G ratio of 1.93 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 29.09% and a return on equity of 19.70%. T. Rowe Price Group’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.69 EPS. As a group, research analysts anticipate that T. Rowe Price Group, Inc. will post 8.75 earnings per share for the current fiscal year.

Insider Activity at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $2,493,357.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The disclosure for this sale can be found here. Insiders sold a total of 12,921 shares of company stock worth $1,500,133 over the last 90 days. Company insiders own 2.00% of the company’s stock.

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.