T. Rowe Price Group, Inc. (NASDAQ:TROW) Position Increased by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 36.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,990 shares of the asset manager’s stock after acquiring an additional 2,136 shares during the period. Confluence Wealth Services Inc.’s holdings in T. Rowe Price Group were worth $974,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of TROW. Czech National Bank raised its holdings in shares of T. Rowe Price Group by 47.5% during the third quarter. Czech National Bank now owns 39,202 shares of the asset manager’s stock worth $4,111,000 after acquiring an additional 12,618 shares in the last quarter. Simplicity Solutions LLC raised its holdings in shares of T. Rowe Price Group by 3.4% during the third quarter. Simplicity Solutions LLC now owns 3,391 shares of the asset manager’s stock worth $356,000 after acquiring an additional 112 shares in the last quarter. Trust Co. of Toledo NA OH raised its holdings in T. Rowe Price Group by 86.8% during the third quarter. Trust Co. of Toledo NA OH now owns 4,368 shares of the asset manager’s stock valued at $458,000 after buying an additional 2,030 shares in the last quarter. Ascent Wealth Partners LLC bought a new position in T. Rowe Price Group during the third quarter valued at about $206,000. Finally, ST Germain D J Co. Inc. raised its holdings in T. Rowe Price Group by 13.1% during the third quarter. ST Germain D J Co. Inc. now owns 29,211 shares of the asset manager’s stock valued at $3,063,000 after buying an additional 3,376 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 1,138 shares of the business’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 transaction, the insider now directly owns 14,113 shares in the company, valued at $1,511,925.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jessica M. Hiebler sold 1,138 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the sale, the insider now directly owns 14,113 shares in the company, valued at approximately $1,511,925.69. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the sale, the director now owns 21,073 shares in the company, valued at $2,493,357.36. The disclosure for this sale can be found here. Insiders have sold 12,921 shares of company stock worth $1,500,133 over the last three months. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on TROW. Wells Fargo & Company raised their target price on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, February 9th. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and raised their target price for the company from $106.00 to $120.00 in a report on Thursday, April 11th. JPMorgan Chase & Co. raised their target price on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. Evercore ISI cut their target price on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a report on Tuesday. Finally, Citigroup raised their target price on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Four analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $112.10.

T. Rowe Price Group Trading Down 2.2 %

TROW traded down $2.51 on Tuesday, hitting $109.57. 1,764,159 shares of the stock traded hands, compared to its average volume of 1,453,556. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $132.76. The firm has a market capitalization of $24.50 billion, a PE ratio of 13.01, a P/E/G ratio of 2.14 and a beta of 1.40. The business has a fifty day moving average price of $115.17 and a two-hundred day moving average price of $107.23.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results 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. T. Rowe Price Group had a return on equity of 19.80% and a net margin of 29.09%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the company posted $1.69 earnings per share. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, equities research analysts forecast that T. Rowe Price Group, Inc. will post 8.36 EPS for the current fiscal year.

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.