Confluence Wealth Services Inc. Acquires 2,136 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Confluence Wealth Services Inc. increased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 36.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,990 shares of the asset manager’s stock after purchasing an additional 2,136 shares during the quarter. Confluence Wealth Services Inc.’s holdings in T. Rowe Price Group were worth $974,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Donaldson Capital Management LLC lifted its holdings in T. Rowe Price Group by 8.2% in the first quarter. Donaldson Capital Management LLC now owns 385,852 shares of the asset manager’s stock valued at $47,043,000 after buying an additional 29,293 shares during the period. Raymond James & Associates lifted its holdings in T. Rowe Price Group by 0.6% in the first quarter. Raymond James & Associates now owns 206,125 shares of the asset manager’s stock valued at $25,131,000 after buying an additional 1,311 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in T. Rowe Price Group in the first quarter valued at $1,008,000. First Trust Direct Indexing L.P. lifted its holdings in T. Rowe Price Group by 13.4% in the first quarter. First Trust Direct Indexing L.P. now owns 4,861 shares of the asset manager’s stock valued at $593,000 after buying an additional 576 shares during the period. Finally, DMC Group LLC lifted its holdings in T. Rowe Price Group by 7.4% in the first quarter. DMC Group LLC now owns 4,703 shares of the asset manager’s stock valued at $573,000 after buying an additional 325 shares during the period. Institutional investors own 73.39% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the sale, the director now directly owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the sale, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the sale, the director now directly owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The disclosure for this sale can be found here. Insiders sold a total of 12,921 shares of company stock valued at $1,500,133 over the last three months. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW traded down $2.51 during midday trading on Tuesday, hitting $109.57. 1,764,159 shares of the company’s stock were exchanged, compared to its average volume of 1,453,556. The stock has a 50 day moving average price of $115.17 and a 200-day moving average price of $107.23. The company has a market cap of $24.50 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 2.14 and a beta of 1.40. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, topping the consensus estimate of $2.04 by $0.34. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.80%. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.69 earnings per share. On average, analysts anticipate that T. Rowe Price Group, Inc. will post 8.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TROW has been the topic of several recent analyst reports. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and boosted their target price for the company from $92.00 to $114.00 in a report on Monday, April 8th. Citigroup boosted their target price on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, April 5th. UBS Group upped their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a report on Friday, April 12th. Wells Fargo & Company upped their price objective on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, February 9th. Finally, Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $106.00 to $120.00 in a report on Thursday, April 11th. Four analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and a consensus target price of $112.10.

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.