Brooklyn Investment Group Acquires 98 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Brooklyn Investment Group increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 24.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 497 shares of the asset manager’s stock after acquiring an additional 98 shares during the period. Brooklyn Investment Group’s holdings in T. Rowe Price Group were worth $56,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TROW. Whitener Capital Management Inc. bought a new position in shares of T. Rowe Price Group in the 4th quarter valued at about $206,000. Merit Financial Group LLC bought a new position in T. Rowe Price Group in the fourth quarter valued at approximately $1,502,000. Avanza Fonder AB acquired a new position in shares of T. Rowe Price Group during the 4th quarter worth approximately $2,085,000. Central Valley Advisors LLC bought a new stake in shares of T. Rowe Price Group during the 4th quarter worth approximately $207,000. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of T. Rowe Price Group by 7.9% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 14,007 shares of the asset manager’s stock valued at $1,584,000 after buying an additional 1,021 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the 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 sale, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. This represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

TROW opened at $113.21 on Monday. The stock has a fifty day moving average of $117.71 and a 200-day moving average of $112.84. The company has a market capitalization 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. 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 issued its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share 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 during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the company earned $2.17 EPS. The business’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.46 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend was Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is currently 54.27%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TROW shares. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday. Barclays dropped their target price on shares of T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating on the stock in a report on Friday. TD Cowen reduced their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. The Goldman Sachs Group dropped their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. Finally, 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 research note on Thursday, November 7th. 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.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $115.82.

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.