AlphaStar Capital Management LLC Invests $656,000 in T. Rowe Price Group, Inc. (NASDAQ:TROW)

AlphaStar Capital Management LLC acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,802 shares of the asset manager’s stock, valued at approximately $656,000.

A number of other large investors also recently bought and sold shares of the stock. WCM Investment Management LLC raised its stake in shares of T. Rowe Price Group by 153.8% in the 4th quarter. WCM Investment Management LLC now owns 37,995 shares of the asset manager’s stock valued at $4,326,000 after acquiring an additional 23,023 shares during the period. Entropy Technologies LP acquired a new stake in T. Rowe Price Group in the 4th quarter valued at approximately $1,017,000. Wilmington Savings Fund Society FSB raised its position in T. Rowe Price Group by 1.3% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 11,554 shares of the asset manager’s stock valued at $1,307,000 after purchasing an additional 150 shares during the period. Apollon Wealth Management LLC lifted its stake in T. Rowe Price Group by 27.7% during the fourth quarter. Apollon Wealth Management LLC now owns 7,797 shares of the asset manager’s stock worth $882,000 after purchasing an additional 1,693 shares in the last quarter. Finally, TFG Advisers LLC boosted its position in shares of T. Rowe Price Group by 9.1% during the fourth quarter. TFG Advisers LLC now owns 2,659 shares of the asset manager’s stock worth $301,000 after buying an additional 222 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Trading Down 1.2 %

Shares of TROW opened at $110.14 on Friday. The firm has a market capitalization of $24.47 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 1.70 and a beta of 1.44. The firm’s fifty day simple moving average is $115.78 and its 200-day simple moving average is $112.59. T. Rowe Price Group, Inc. has a twelve month low of $100.49 and a twelve month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.61%. During the same quarter last year, the firm posted $1.72 EPS. On average, analysts predict that T. Rowe Price Group, Inc. will post 9.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TROW shares. JPMorgan Chase & Co. cut their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Barclays cut their price target on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Evercore ISI upped their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Finally, StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $115.09.

Insider Activity at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’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 transaction of $499,197.45. Following the transaction, the vice president now owns 119,577 shares in the company, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.00% of the stock is owned by corporate insiders.

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.