Willis Investment Counsel Purchases 572 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Willis Investment Counsel increased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.3% during the fourth quarter, HoldingsChannel reports. The firm owned 221,426 shares of the asset manager’s stock after acquiring an additional 572 shares during the period. T. Rowe Price Group comprises approximately 1.6% of Willis Investment Counsel’s portfolio, making the stock its 20th biggest holding. Willis Investment Counsel’s holdings in T. Rowe Price Group were worth $25,041,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Iron Horse Wealth Management LLC raised its holdings in shares of T. Rowe Price Group by 90.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after purchasing an additional 110 shares during the period. Hexagon Capital Partners LLC raised its holdings in T. Rowe Price Group by 54.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 104 shares during the period. True Wealth Design LLC bought a new stake in T. Rowe Price Group during the 3rd quarter valued at $37,000. Larson Financial Group LLC raised its holdings in T. Rowe Price Group by 866.7% during the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 312 shares during the period. Finally, Brooklyn Investment Group bought a new stake in T. Rowe Price Group during the 3rd quarter valued at $43,000. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of TROW opened at $116.92 on Monday. T. Rowe Price Group, Inc. has a 1 year low of $100.49 and a 1 year high of $125.81. The stock has a 50 day simple moving average of $116.90 and a two-hundred day simple moving average of $112.69. The firm has a market cap of $25.97 billion, a P/E ratio of 12.79, a P/E/G ratio of 1.78 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.36 by $0.21. The firm had revenue of $1.79 billion for 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%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $2.17 earnings per share. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.42 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares of the company’s stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Evercore ISI boosted their target price 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. TD Cowen lowered their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock 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. JPMorgan Chase & Co. reduced their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Finally, Barclays reduced their price target on shares of T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $115.82.

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.