Los Angeles Capital Management LLC Invests $5.82 Million in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Los Angeles Capital Management LLC purchased a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 54,006 shares of the asset manager’s stock, valued at approximately $5,816,000.

Several other institutional investors also recently bought and sold shares of the business. OFI Invest Asset Management purchased a new position in T. Rowe Price Group in the 3rd quarter valued at about $25,000. Creative Financial Designs Inc. ADV grew its holdings in shares of T. Rowe Price Group by 83.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after buying an additional 106 shares in the last quarter. Park Place Capital Corp raised its holdings in T. Rowe Price Group by 1,775.0% in the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 284 shares during the last quarter. Fortitude Family Office LLC purchased a new position in T. Rowe Price Group during the fourth quarter worth approximately $33,000. Finally, NBC Securities Inc. acquired a new position in shares of T. Rowe Price Group during the 3rd quarter valued at about $39,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction on 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 sale, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the sale, the insider now owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the transaction, the director now directly owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,921 shares of company stock valued at $1,500,133. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Up 0.3 %

NASDAQ:TROW opened at $111.50 on Monday. The stock has a fifty day moving average price of $115.20 and a 200 day moving average price of $107.47. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $132.76. The firm has a market cap of $24.90 billion, a PE ratio of 13.24, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.34. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.69 EPS. Equities analysts forecast that T. Rowe Price Group, Inc. will post 8.75 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on TROW shares. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their price target for the company from $106.00 to $120.00 in a research note on Thursday, April 11th. Citigroup raised their price objective on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Evercore ISI dropped their price target on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research report on Tuesday, April 30th. Finally, UBS Group upped their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Four analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $112.10.

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.