NEOS Investment Management LLC Purchases 2,484 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

NEOS Investment Management LLC boosted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 28.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 11,090 shares of the asset manager’s stock after buying an additional 2,484 shares during the quarter. NEOS Investment Management LLC’s holdings in T. Rowe Price Group were worth $1,254,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TROW. Addison Advisors LLC increased its stake in T. Rowe Price Group by 67.4% in the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 93 shares in the last quarter. Curio Wealth LLC acquired a new stake in shares of T. Rowe Price Group in the 4th quarter valued at about $27,000. Y.D. More Investments Ltd lifted its stake in 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 valued at $32,000 after acquiring an additional 155 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of T. Rowe Price Group in the fourth quarter worth $32,000. Finally, Advantage Trust Co lifted its position in T. Rowe Price Group by 48.8% during the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after buying an additional 100 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TROW shares. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Barclays lowered their target price on shares of 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. 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. Morgan Stanley lowered their price objective on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. Finally, Wells Fargo & Company cut their target price on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $114.09.

Insiders Place Their Bets

In other news, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the transaction, the vice president now directly owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Down 3.3 %

Shares of NASDAQ:TROW opened at $91.57 on Friday. T. Rowe Price Group, Inc. has a 12-month low of $91.10 and a 12-month high of $125.81. The business has a 50 day moving average of $104.61 and a 200-day moving average of $110.87. The stock has a market cap of $20.35 billion, a PE ratio of 10.00, a P/E/G ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) 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 20.83%. During the same period in the prior year, the company earned $1.72 earnings per share. Equities research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 5.55%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Friday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.46%.

T. Rowe Price Group Company 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.