Mutual Advisors LLC Has $4.66 Million Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Mutual Advisors LLC grew its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,545 shares of the asset manager’s stock after purchasing an additional 779 shares during the period. Mutual Advisors LLC’s holdings in T. Rowe Price Group were worth $4,658,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AE Wealth Management LLC bought a new position in T. Rowe Price Group in the 2nd quarter valued at approximately $305,000. Pacer Advisors Inc. raised its stake in shares of T. Rowe Price Group by 10.7% during the second quarter. Pacer Advisors Inc. now owns 19,422 shares of the asset manager’s stock valued at $2,240,000 after acquiring an additional 1,873 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of T. Rowe Price Group by 29.9% in the second quarter. EverSource Wealth Advisors LLC now owns 430 shares of the asset manager’s stock worth $49,000 after purchasing an additional 99 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in T. Rowe Price Group by 7.6% in the second quarter. Public Sector Pension Investment Board now owns 37,878 shares of the asset manager’s stock valued at $4,368,000 after purchasing an additional 2,670 shares during the period. Finally, Evergreen Capital Management LLC raised its position in T. Rowe Price Group by 5.7% during the 2nd quarter. Evergreen Capital Management LLC now owns 4,682 shares of the asset manager’s stock worth $540,000 after purchasing an additional 254 shares during the last quarter. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Stock Down 0.1 %

Shares of TROW opened at $113.38 on Friday. The stock has a market cap of $25.19 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.68 and a beta of 1.43. The business’s fifty day moving average is $117.44 and its 200 day moving average is $112.80. T. Rowe Price Group, Inc. has a 12-month low of $100.49 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm earned $2.17 earnings per share. On average, analysts expect that T. Rowe Price Group, Inc. will post 9.45 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date of this dividend was Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is currently 54.27%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares of the company’s stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TROW. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft boosted their price objective on 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 lifted their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Morgan Stanley boosted their price target on T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $115.82.

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.