Bessemer Group Inc. increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 48.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 72,165 shares of the company’s stock after buying an additional 23,572 shares during the period. Bessemer Group Inc.’s holdings in T. Rowe Price Group were worth $5,431,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TROW. Calamos Advisors LLC boosted its stake in shares of T. Rowe Price Group by 7.5% in the fourth quarter. Calamos Advisors LLC now owns 29,532 shares of the company’s stock worth $2,223,000 after buying an additional 2,066 shares during the last quarter. ING Groep NV boosted its stake in shares of T. Rowe Price Group by 32.8% in the fourth quarter. ING Groep NV now owns 19,321 shares of the company’s stock valued at $1,460,000 after buying an additional 4,768 shares during the period. Johnson Financial Group Inc. boosted its stake in shares of T. Rowe Price Group by 65.6% in the fourth quarter. Johnson Financial Group Inc. now owns 3,230 shares of the company’s stock valued at $243,000 after buying an additional 1,280 shares during the period. BP PLC acquired a new stake in shares of T. Rowe Price Group during the fourth quarter valued at $2,258,000. Finally, Equity Investment Corp Acquisition Inc acquired a new stake in T. Rowe Price Group during the fourth quarter worth about $213,000. 71.35% of the stock is currently owned by hedge funds and other institutional investors.
T. Rowe Price Group, Inc. (NASDAQ:TROW) opened at 69.86 on Wednesday. The company’s 50-day moving average price is $71.95 and its 200 day moving average price is $70.13. T. Rowe Price Group, Inc. has a 12 month low of $62.97 and a 12 month high of $79.00. The company has a market capitalization of $17.00 billion, a price-to-earnings ratio of 14.71 and a beta of 1.29.
T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Thursday, January 26th. The company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.07. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 24.49%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the firm posted $1.17 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Analysts forecast that T. Rowe Price Group, Inc. will post $4.82 EPS for the current fiscal year.
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TROW has been the topic of several recent research reports. Argus lifted their price target on shares of T. Rowe Price Group from $83.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, December 7th. J P Morgan Chase & Co restated an “underweight” rating on shares of T. Rowe Price Group in a research note on Thursday, January 12th. UBS AG raised T. Rowe Price Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $66.00 to $82.00 in a report on Thursday, November 10th. Credit Suisse Group set a $62.00 target price on T. Rowe Price Group and gave the company a “hold” rating in a research report on Saturday, February 4th. Finally, Zacks Investment Research raised T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Tuesday, October 25th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $74.08.
In related news, VP Christopher D. Alderson sold 133,244 shares of the company’s stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $77.67, for a total value of $10,349,061.48. Following the completion of the transaction, the vice president now directly owns 190,473 shares in the company, valued at $14,794,037.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Christopher D. Alderson sold 4,512 shares of the company’s stock in a transaction on Friday, December 9th. The stock was sold at an average price of $76.72, for a total transaction of $346,160.64. Following the completion of the transaction, the vice president now owns 111,707 shares of the company’s stock, valued at $8,570,161.04. The disclosure for this sale can be found here. Insiders have sold a total of 140,756 shares of company stock worth $10,923,582 in the last ninety days. 3.60% of the stock is currently owned by insiders.
T. Rowe Price Group Company Profile
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services to individual and institutional investors in the sponsored T. Rowe Price mutual funds distributed in the United States and other investment portfolios. It operates through investment advisory business segment.
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