Advantage Trust Co Increases Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Advantage Trust Co increased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 48.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 305 shares of the asset manager’s stock after acquiring an additional 100 shares during the quarter. Advantage Trust Co’s holdings in T. Rowe Price Group were worth $34,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Y.D. More Investments Ltd raised its holdings in shares of T. Rowe Price Group by 124.0% during the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 155 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in T. Rowe Price Group in the 4th quarter valued at $32,000. True Wealth Design LLC acquired a new stake in T. Rowe Price Group during the 3rd quarter worth $37,000. Iron Horse Wealth Management LLC grew its holdings in shares of T. Rowe Price Group by 47.6% during the fourth quarter. Iron Horse Wealth Management LLC now owns 341 shares of the asset manager’s stock worth $39,000 after buying an additional 110 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of T. Rowe Price Group by 866.7% in the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after buying an additional 312 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on TROW shares. TD Cowen cut their price objective on shares of 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. Barclays reduced their price objective 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. Evercore ISI raised 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. Morgan Stanley boosted their price target on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $115.09.

Insiders Place Their Bets

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction on 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 owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value 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 approximately $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $106.27 on Friday. The company’s 50 day simple moving average is $112.79 and its 200-day simple moving average is $112.29. T. Rowe Price Group, Inc. has a 1 year low of $100.49 and a 1 year high of $125.81. The company has a market capitalization of $23.66 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 2.86 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last announced its 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 net margin of 29.61% and a return on equity of 20.83%. During the same period in the previous year, the business posted $1.72 earnings per share. Equities analysts expect 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. Shareholders of record on Friday, March 14th will be given a $1.27 dividend. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a yield of 4.78%. The ex-dividend date is Friday, March 14th. T. Rowe Price Group’s payout ratio is currently 54.15%.

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.