L.K. Benson & Company P.C. Acquires New Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

L.K. Benson & Company P.C. purchased a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 324,020 shares of the asset manager's stock, valued at approximately $36,643,000. T. Rowe Price Group makes up 25.8% of L.K. Benson & Company P.C.'s holdings, making the stock its largest holding. L.K. Benson & Company P.C. owned 0.15% of T. Rowe Price Group at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Addison Advisors LLC increased its position in T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock worth $26,000 after buying an additional 93 shares in the last quarter. Curio Wealth LLC purchased a new position in T. Rowe Price Group during the fourth quarter worth $27,000. Y.D. More Investments Ltd increased its position in 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 worth $32,000 after buying an additional 155 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in T. Rowe Price Group during the fourth quarter worth $32,000. Finally, Advantage Trust Co increased its position in T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock worth $34,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Trading Down 0.2 %

Shares of TROW traded down $0.21 during midday trading on Friday, reaching $92.83. 5,915,239 shares of the company were exchanged, compared to its average volume of 1,294,920. The stock has a 50-day moving average price of $106.39 and a 200-day moving average price of $111.23. The company has a market cap of $20.67 billion, a price-to-earnings ratio of 10.13, a P/E/G ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 1-year low of $91.37 and a 1-year high of $125.81.

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T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 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 period last year, the firm posted $1.72 EPS. Equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date 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 payout ratio is currently 55.46%.

Insider Buying and Selling

In related news, VP Arif Husain sold 4,112 shares of the business's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the transaction, the vice president now owns 36,800 shares in the company, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on TROW shares. Morgan Stanley dropped their price target on T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating for the company in a research report on Monday, February 24th. StockNews.com downgraded T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Sunday, February 2nd. Keefe, Bruyette & Woods reaffirmed 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. Barclays lowered their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating for the company in a research report on Thursday, February 6th. Finally, Wells Fargo & Company lowered their price objective on T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Four equities 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 company has an average rating of "Hold" and an average price target of $114.09.

T. Rowe Price Group 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.