Summit Trail Advisors LLC Boosts Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Summit Trail Advisors LLC lifted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 23.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,969 shares of the asset manager’s stock after acquiring an additional 956 shares during the period. Summit Trail Advisors LLC’s holdings in T. Rowe Price Group were worth $562,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in TROW. Iron Horse Wealth Management LLC lifted its position in T. Rowe Price Group by 90.9% during the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after buying an additional 110 shares during the period. Y.D. More Investments Ltd grew its position in shares of T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after buying an additional 155 shares during the period. True Wealth Design LLC bought a new position in shares of T. Rowe Price Group in the 3rd quarter worth about $37,000. Larson Financial Group LLC lifted its position in T. Rowe Price Group by 866.7% during the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 312 shares during the period. Finally, Brooklyn Investment Group bought a new stake in T. Rowe Price Group during the third quarter worth about $43,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TROW shares. TD Cowen decreased their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Barclays dropped their target price on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Morgan Stanley raised their price target on T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. Finally, StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $115.09.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the sale, the vice president now owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $109.03 on Wednesday. The business has a 50-day simple moving average of $115.50 and a two-hundred day simple moving average of $112.50. The firm has a market cap of $24.22 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44. T. Rowe Price Group, Inc. has a fifty-two week low of $100.49 and a fifty-two week 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 the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.91%. During the same quarter in the previous year, the firm earned $1.72 EPS. As a group, research analysts predict that T. Rowe Price Group, Inc. will post 9.36 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 4.66%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio is presently 54.15%.

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.