McKinley Carter Wealth Services Inc. Grows Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

McKinley Carter Wealth Services Inc. boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 13,945 shares of the asset manager’s stock after purchasing an additional 153 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in T. Rowe Price Group were worth $1,577,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Iron Horse Wealth Management LLC grew its holdings in shares of T. Rowe Price Group by 90.9% in the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 110 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in T. Rowe Price Group by 54.7% in the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after buying an additional 104 shares during the last quarter. True Wealth Design LLC purchased a new position in shares of T. Rowe Price Group during the third quarter worth about $37,000. Larson Financial Group LLC grew its position in T. Rowe Price Group by 866.7% in the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after buying an additional 312 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in T. Rowe Price Group during the 3rd quarter worth approximately $43,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the sale, the vice president now owns 119,577 shares in the company, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $115.65 on Wednesday. The stock’s fifty day simple moving average is $117.07 and its 200 day simple moving average is $112.73. T. Rowe Price Group, Inc. has a one year low of $100.49 and a one year high of $125.81. The firm has a market cap of $25.69 billion, a price-to-earnings ratio of 12.65, a P/E/G ratio of 1.68 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.21. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted $2.17 earnings per share. On average, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.45 earnings per share for the current year.

Analyst Ratings Changes

TROW has been the subject of a number of research reports. Evercore ISI upped their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods dropped their price objective on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Barclays dropped their price objective on shares of T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Wells Fargo & Company reduced their target price on T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Finally, TD Cowen lowered their price objective on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $115.82.

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.