SouthState Corp Boosts Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

SouthState Corp grew its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 33.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,872 shares of the asset manager’s stock after acquiring an additional 2,226 shares during the period. SouthState Corp’s holdings in T. Rowe Price Group were worth $955,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. International Assets Investment Management LLC raised its stake in T. Rowe Price Group by 8,968.6% in the 4th quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager’s stock valued at $97,152,000 after purchasing an additional 892,198 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in T. Rowe Price Group during the third quarter worth approximately $21,114,000. Robeco Institutional Asset Management B.V. lifted its position in T. Rowe Price Group by 282.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 201,435 shares of the asset manager’s stock worth $21,124,000 after buying an additional 148,787 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in T. Rowe Price Group by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock worth $513,874,000 after buying an additional 134,839 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in T. Rowe Price Group by 7.6% in the 3rd quarter. Invesco Ltd. now owns 1,684,057 shares of the asset manager’s stock valued at $176,607,000 after buying an additional 119,305 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 0.3 %

TROW traded up $0.34 during trading hours on Friday, hitting $111.50. 1,271,921 shares of the company’s stock were exchanged, compared to its average volume of 1,459,103. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $132.76. The firm has a market cap of $24.90 billion, a P/E ratio of 13.24, a price-to-earnings-growth ratio of 1.91 and a beta of 1.40. The firm has a 50 day moving average of $115.19 and a 200 day moving average of $107.28.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the business posted $1.69 earnings per share. T. Rowe Price Group’s revenue was up 13.8% compared to the same quarter last year. As a group, research analysts expect that T. Rowe Price Group, Inc. will post 8.75 EPS for the current fiscal year.

Analyst Ratings Changes

TROW has been the subject of several analyst reports. Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their price target for the company from $106.00 to $120.00 in a research note on Thursday, April 11th. JPMorgan Chase & Co. increased their price objective on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. Citigroup lifted their target price on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Evercore ISI cut their price objective on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research report on Tuesday. Finally, TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and lifted their price target for the company from $92.00 to $114.00 in a research report on Monday, April 8th. Four equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $112.10.

Insider Transactions at T. Rowe Price Group

In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’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 sale, the director now owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the sale, the director now owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the sale, the director now owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,921 shares of company stock valued at $1,500,133. 2.00% of the stock is currently owned by corporate 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.