Steigerwald Gordon & Koch Inc. Acquires 1,512 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Steigerwald Gordon & Koch Inc. increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 119,514 shares of the asset manager’s stock after purchasing an additional 1,512 shares during the period. Steigerwald Gordon & Koch Inc. owned 0.05% of T. Rowe Price Group worth $13,516,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Astoria Portfolio Advisors LLC. bought a new stake in T. Rowe Price Group during the 4th quarter valued at $247,000. HB Wealth Management LLC boosted its position in T. Rowe Price Group by 12.4% during the fourth quarter. HB Wealth Management LLC now owns 2,691 shares of the asset manager’s stock valued at $304,000 after purchasing an additional 296 shares in the last quarter. Trust Co. of Vermont grew its stake in T. Rowe Price Group by 4.4% in the fourth quarter. Trust Co. of Vermont now owns 12,468 shares of the asset manager’s stock valued at $1,410,000 after purchasing an additional 521 shares during the last quarter. Brooklyn Investment Group raised its holdings in T. Rowe Price Group by 24.6% in the fourth quarter. Brooklyn Investment Group now owns 497 shares of the asset manager’s stock worth $56,000 after purchasing an additional 98 shares in the last quarter. Finally, Whitener Capital Management Inc. bought a new stake in shares of T. Rowe Price Group in the 4th quarter valued at about $206,000. 73.39% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were 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 $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 Securities & Exchange Commission, which is available at this link. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

TROW opened at $113.21 on Friday. The stock has a market cap of $25.15 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.42 and a beta of 1.43. The firm has a fifty day moving average price of $117.71 and a 200 day moving average price of $112.85. T. Rowe Price Group, Inc. has a 1 year low of $100.49 and a 1 year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the company posted $2.17 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities analysts expect that T. Rowe Price Group, Inc. will post 9.46 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend was Friday, December 13th. T. Rowe Price Group’s payout ratio is currently 54.27%.

Wall Street Analysts Forecast Growth

TROW has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price target on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Keefe, Bruyette & Woods dropped their price objective on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. Wells Fargo & Company reduced their target price on T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. The Goldman Sachs Group cut their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a report on Thursday, October 3rd. Finally, Barclays reduced their price target on shares of T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating for the company in a research report on Friday. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and a consensus target price of $115.82.

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.