Stephens Inc. AR Acquires 71,546 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Stephens Inc. AR raised its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1,591.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 76,041 shares of the asset manager’s stock after acquiring an additional 71,546 shares during the quarter. Stephens Inc. AR’s holdings in T. Rowe Price Group were worth $8,599,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Nilsine Partners LLC lifted its position in shares of T. Rowe Price Group by 75.5% during the 4th quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock valued at $623,000 after acquiring an additional 2,370 shares during the period. Principal Financial Group Inc. raised its holdings in shares of T. Rowe Price Group by 2.8% during the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock valued at $30,062,000 after purchasing an additional 7,503 shares during the period. Janus Henderson Group PLC boosted its position in shares of T. Rowe Price Group by 3.8% during the 3rd quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock worth $3,267,000 after purchasing an additional 1,100 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of T. Rowe Price Group in the 3rd quarter valued at about $516,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of T. Rowe Price Group by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock valued at $745,169,000 after buying an additional 231,286 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other 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 transaction of $499,197.45. Following the completion of the transaction, the vice president now directly owns 119,577 shares of the company’s stock, valued at $14,749,822.95. This represents a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on TROW shares. Barclays cut their price target on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday. JPMorgan Chase & Co. decreased their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. TD Cowen dropped their price objective on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Finally, Evercore ISI boosted their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $115.09.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $110.14 on Monday. T. Rowe Price Group, Inc. has a 52 week low of $100.49 and a 52 week high of $125.81. The firm has a 50-day moving average price of $115.78 and a two-hundred day moving average price of $112.55. The firm has a market cap of $24.47 billion, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.91%. During the same period in the previous year, the company earned $1.72 EPS. As a group, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.36 earnings per share for the current 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.