City Holding Co. Raises Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

City Holding Co. lifted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,622 shares of the asset manager’s stock after buying an additional 127 shares during the period. City Holding Co.’s holdings in T. Rowe Price Group were worth $410,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TROW. Iron Horse Wealth Management LLC lifted its holdings 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 purchasing an additional 110 shares in the last quarter. Hexagon Capital Partners LLC raised its position in shares of T. Rowe Price Group by 54.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after purchasing an additional 104 shares during the last quarter. True Wealth Design LLC purchased a new position in T. Rowe Price Group in the 3rd quarter valued at about $37,000. Larson Financial Group LLC boosted its holdings 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 buying an additional 312 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of T. Rowe Price Group during the third quarter valued at approximately $43,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

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 stock in a transaction that occurred on 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Trading Up 1.0 %

NASDAQ TROW opened at $113.21 on Tuesday. The stock has a fifty day simple moving average of $117.71 and a 200-day simple moving average of $112.82. The stock has a market cap of $25.15 billion, a PE 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 twelve month low of $100.49 and a twelve month high of $125.81.

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

T. Rowe Price Group Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on TROW. JPMorgan Chase & Co. reduced their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. TD Cowen decreased their price target on shares of 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. Wells Fargo & Company dropped their price objective on shares of 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 decreased their target price on shares of 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, Keefe, Bruyette & Woods dropped their price target on T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus target price of $115.82.

About T. Rowe Price Group

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.