PUREfi Wealth LLC Takes Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

PUREfi Wealth LLC bought a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 2,273 shares of the asset manager’s stock, valued at approximately $257,000.

Several other institutional investors have also made changes to their positions in TROW. Exchange Traded Concepts LLC bought a new position in T. Rowe Price Group during the 3rd quarter valued at about $105,000. Creative Planning lifted its holdings in T. Rowe Price Group by 0.3% during the 3rd quarter. Creative Planning now owns 55,324 shares of the asset manager’s stock valued at $6,026,000 after purchasing an additional 177 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in T. Rowe Price Group by 16.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 11,214 shares of the asset manager’s stock valued at $1,222,000 after purchasing an additional 1,559 shares during the last quarter. Cornerstone Wealth Management LLC raised its stake in shares of T. Rowe Price Group by 8.2% in the third quarter. Cornerstone Wealth Management LLC now owns 2,298 shares of the asset manager’s stock worth $250,000 after acquiring an additional 174 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its stake in shares of T. Rowe Price Group by 28.8% in the third quarter. Bleakley Financial Group LLC now owns 3,821 shares of the asset manager’s stock worth $416,000 after acquiring an additional 854 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. TD Cowen dropped their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. dropped their target price on shares of 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. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $115.09.

Insider Activity at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the transaction, the vice president now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Arif Husain sold 4,112 shares of the company’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 completion of the transaction, the vice president now 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 disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

TROW opened at $107.17 on Friday. The company has a market cap of $23.81 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44. The firm has a 50 day simple moving average of $114.54 and a 200 day simple moving average of $112.40. 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 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 net margin of 29.61% and a return on equity of 20.91%. During the same quarter last year, the firm posted $1.72 EPS. As a group, analysts expect that T. Rowe Price Group, Inc. will post 9.36 EPS for the current year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $1.27 per share. The ex-dividend date is Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a yield of 4.74%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s payout ratio is currently 54.15%.

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.