Transcend Capital Buys $612K T. Rowe Price Stake as JPMorgan Cuts Target to $108
Transcend Capital Advisors bought 5,961 T. Rowe Price shares for $612,000 in Q3, while Mutual Advisors LLC sold 30,653 shares, trimming its holding to 22,016 shares worth $2.256 million. JPMorgan cut its price target from $111 to $108 and assigned an underweight rating on January 20th.
1. New Stake Acquisition by Transcend Capital
In the third quarter, Transcend Capital Advisors LLC initiated a position in T. Rowe Price Group by purchasing 5,961 shares valued at approximately $612,000, as disclosed in its latest 13F filing with the SEC. This marks Transcend’s first reported investment in the asset manager during the period, reflecting confidence in the company’s long-term growth prospects driven by steady fee-based revenue streams and resilient net margins approaching 29%.
2. Major Institutional Position Changes
Several large investors adjusted their holdings in the second quarter. First Trust Advisors LP increased its stake by 137.7%, adding nearly 2.0 million shares to reach a total of 3.44 million shares. Norges Bank established a new position worth about $82.8 million, while ARGA Investment Management LP surged its holdings by 3,807% to 477,161 shares. Virginia Retirement Systems and ProShare Advisors LLC also added meaningful positions, collectively bringing institutional ownership to over 73% of outstanding shares.
3. Analyst Rating Movements
Research firms have shifted their outlook heading into early 2026. Evercore ISI raised its target from $115 to $116 following robust earnings execution, whereas JPMorgan Chase & Co. cut its objective from $111 to $108 and maintained an underweight stance, citing expected expense pressure. BMO Capital Markets upgraded to market perform with a $110 target, and Weiss Ratings reaffirmed a hold, contributing to a consensus recommendation of reduce and an average price objective near $107.31.
4. Insider Transaction and Recent Financial Results
On December 10, the firm’s vice president sold 4,260 shares at an average of $101.96, trimming his stake by just over 8% and leaving him with 47,102 shares. For the quarter ended October 31, T. Rowe Price Group reported EPS of $2.81, beating consensus by $0.26, on revenue of $1.89 billion, up 6% year-over-year. The firm’s return on equity stood at 19.95%, supporting analyst forecasts for full-year earnings per share of approximately $9.29.