Ballentine Partners LLC Buys New Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Ballentine Partners LLC bought a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the third quarter, Holdings Channel.com reports. The institutional investor bought 2,619 shares of the asset manager’s stock, valued at approximately $285,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TROW. Massmutual Trust Co. FSB ADV raised its holdings in shares of T. Rowe Price Group by 7.4% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,328 shares of the asset manager’s stock worth $153,000 after buying an additional 92 shares during the last quarter. Paulson Wealth Management Inc. raised its holdings in shares of T. Rowe Price Group by 4.9% in the first quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock worth $247,000 after buying an additional 95 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of T. Rowe Price Group by 29.9% in the second quarter. EverSource Wealth Advisors LLC now owns 430 shares of the asset manager’s stock worth $49,000 after buying an additional 99 shares during the last quarter. Private Wealth Partners LLC raised its holdings in shares of T. Rowe Price Group by 3.1% in the second quarter. Private Wealth Partners LLC now owns 3,300 shares of the asset manager’s stock worth $381,000 after buying an additional 100 shares during the last quarter. Finally, Bourne Lent Asset Management Inc. raised its holdings in shares of T. Rowe Price Group by 1.1% in the third quarter. Bourne Lent Asset Management Inc. now owns 9,067 shares of the asset manager’s stock worth $988,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of T. Rowe Price Group from $125.00 to $127.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. JPMorgan Chase & Co. raised their target price on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. TD Cowen reduced their target price on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a report on Monday, July 29th. Barclays raised their target price on shares of T. Rowe Price Group from $99.00 to $101.00 and gave the stock an “underweight” rating in a report on Monday, October 14th. Finally, StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $113.00.

Insider Activity

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the sale, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

TROW stock opened at $112.40 on Tuesday. The firm has a market cap of $25.10 billion, a PE ratio of 13.35, a P/E/G ratio of 1.82 and a beta of 1.41. The firm’s fifty day moving average is $108.14 and its 200 day moving average is $111.74. T. Rowe Price Group, Inc. has a one year low of $88.55 and a one year high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the prior year, the business posted $2.02 EPS. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. Research analysts predict that T. Rowe Price Group, Inc. will post 9.16 earnings per share for the current fiscal year.

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.