T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by National Bank of Canada FI

National Bank of Canada FI lifted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 50.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 301,242 shares of the asset manager’s stock after buying an additional 100,430 shares during the quarter. National Bank of Canada FI owned approximately 0.14% of T. Rowe Price Group worth $27,673,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ameriflex Group Inc. acquired a new position in shares of T. Rowe Price Group during the fourth quarter worth about $42,000. Hexagon Capital Partners LLC lifted its stake in T. Rowe Price Group by 44.8% during the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock worth $34,000 after purchasing an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in T. Rowe Price Group during the first quarter worth approximately $39,000. Chilton Capital Management LLC purchased a new stake in T. Rowe Price Group during the first quarter worth approximately $41,000. Finally, Wayfinding Financial LLC purchased a new stake in T. Rowe Price Group during the first quarter worth approximately $43,000. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Trading Up 1.0%

Shares of NASDAQ TROW opened at $105.06 on Monday. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The stock has a 50 day moving average of $99.50 and a two-hundred day moving average of $97.93. The stock has a market cap of $23.08 billion, a P/E ratio of 11.74, a P/E/G ratio of 2.86 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, topping the consensus estimate of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the prior year, the business earned $2.26 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. As a group, research analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

Analysts Set New Price Targets

TROW has been the subject of several recent analyst reports. Citigroup decreased their target price on T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Keefe, Bruyette & Woods boosted their target price on T. Rowe Price Group from $110.00 to $112.00 and gave the stock a “market perform” rating in a research note on Monday, August 4th. Morgan Stanley boosted their target price on T. Rowe Price Group from $112.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Monday, August 4th. Wells Fargo & Company boosted their target price on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Friday, July 11th. Finally, Cowen restated a “hold” rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. Four research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. Based on data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and an average target price of $101.09.

Insider Activity at T. Rowe Price Group

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total transaction of $190,860.00. Following the completion of the sale, the vice president owned 44,789 shares in the company, valued at $4,274,214.27. This represents a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by company insiders.

T. Rowe Price Group 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.