T. Rowe Price Group, Inc. (NASDAQ:TROW) Holdings Raised by Twelve Points Wealth Management LLC

Twelve Points Wealth Management LLC grew its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 25.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,827 shares of the asset manager’s stock after purchasing an additional 1,375 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in T. Rowe Price Group were worth $772,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. APG Asset Management N.V. lifted its stake in T. Rowe Price Group by 205.9% during the second quarter. APG Asset Management N.V. now owns 26,742 shares of the asset manager’s stock valued at $2,877,000 after purchasing an additional 18,000 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of T. Rowe Price Group by 19.2% during the 2nd quarter. Mackenzie Financial Corp now owns 30,085 shares of the asset manager’s stock worth $3,469,000 after purchasing an additional 4,841 shares in the last quarter. Creative Planning lifted its stake in T. Rowe Price Group by 5.4% in the second quarter. Creative Planning now owns 55,147 shares of the asset manager’s stock valued at $6,359,000 after acquiring an additional 2,827 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in T. Rowe Price Group by 0.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 23,910 shares of the asset manager’s stock worth $2,757,000 after purchasing an additional 118 shares in the last quarter. Finally, Quarry LP acquired a new position in T. Rowe Price Group during the second quarter valued at approximately $86,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TROW. The Goldman Sachs Group decreased their target price on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research note on Thursday, October 3rd. JPMorgan Chase & Co. dropped their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Morgan Stanley boosted their price target on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Wells Fargo & Company dropped their target price on shares of 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 research report on Monday, November 4th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and an average price target of $115.82.

T. Rowe Price Group Stock Up 1.7 %

Shares of NASDAQ:TROW opened at $115.65 on Wednesday. The firm has a market cap of $25.69 billion, a P/E ratio of 12.65, a P/E/G ratio of 1.68 and a beta of 1.43. T. Rowe Price Group, Inc. has a 12-month low of $100.49 and a 12-month high of $125.81. The business has a fifty day simple moving average of $117.12 and a 200 day simple moving average of $112.74.

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

Insider Transactions at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the transaction, the vice president now owns 119,577 shares in the company, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.00% of the company’s stock.

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.