Wealthspire Advisors LLC Purchases 344 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Wealthspire Advisors LLC lifted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,505 shares of the asset manager’s stock after purchasing an additional 344 shares during the quarter. Wealthspire Advisors LLC’s holdings in T. Rowe Price Group were worth $1,414,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of TROW. Y.D. More Investments Ltd boosted its stake in T. Rowe Price Group by 124.0% in the fourth 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 in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of T. Rowe Price Group in the 4th quarter worth approximately $32,000. Advantage Trust Co boosted its stake in shares of T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 100 shares in the last quarter. True Wealth Design LLC bought a new position in shares of T. Rowe Price Group during the 3rd quarter valued at $37,000. Finally, Larson Financial Group LLC raised its position in T. Rowe Price Group by 866.7% in the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after purchasing an additional 312 shares during the period. 73.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TROW shares. TD Cowen reduced their price objective on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Barclays reduced their price target on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. JPMorgan Chase & Co. cut their target price on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Finally, Morgan Stanley lowered their price target on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a report on Monday. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $114.09.

Insider Activity at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the transaction, the vice president now directly owns 36,800 shares of the company’s stock, valued at $4,021,136. This trade represents a 10.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 sale, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Trading Up 0.3 %

Shares of NASDAQ TROW opened at $106.57 on Tuesday. The firm has a fifty day simple moving average of $112.54 and a two-hundred day simple moving average of $112.43. T. Rowe Price Group, Inc. has a 12 month low of $100.49 and a 12 month high of $125.81. The firm has a market capitalization of $23.73 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 2.86 and a beta of 1.44.

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 analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same quarter in the prior year, the company earned $1.72 earnings per share. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 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.