Maridea Wealth Management LLC Makes New Investment in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Maridea Wealth Management LLC bought a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,324 shares of the asset manager's stock, valued at approximately $376,000.

Other institutional investors have also added to or reduced their stakes in the company. Addison Advisors LLC raised its holdings in shares of T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock valued at $26,000 after buying an additional 93 shares in the last quarter. Curio Wealth LLC bought a new position in T. Rowe Price Group during the fourth quarter valued at approximately $27,000. Y.D. More Investments Ltd grew 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 valued at $32,000 after acquiring an additional 155 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of T. Rowe Price Group during the fourth quarter worth approximately $32,000. Finally, Advantage Trust Co lifted its holdings in shares of T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock worth $34,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW traded down $7.33 during midday trading on Thursday, hitting $86.57. 1,184,370 shares of the company traded hands, compared to its average volume of 1,368,198. T. Rowe Price Group, Inc. has a 12-month low of $85.76 and a 12-month high of $125.81. The firm has a market cap of $19.24 billion, a P/E ratio of 9.45, a P/E/G ratio of 2.86 and a beta of 1.46. The stock has a 50-day moving average price of $103.36 and a 200 day moving average price of $110.62.

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T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share 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 in the previous year, the company posted $1.72 EPS. As a group, 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 disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $1.27 per share. The ex-dividend date was Friday, March 14th. This represents a $5.08 annualized dividend and a yield of 5.87%. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.24. T. Rowe Price Group's dividend payout ratio (DPR) is currently 55.46%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Barclays reduced their target price on shares of T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating on the stock in a report on Thursday, February 6th. Wells Fargo & Company decreased their price objective on T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating on the stock in a report on Thursday, February 6th. Bank of America dropped their target price on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a report on Thursday. StockNews.com lowered T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Sunday, February 2nd. Finally, Morgan Stanley lowered their price objective 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. Five equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $109.58.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction on Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the transaction, the director now owns 42,979 shares of the company's stock, valued at $3,935,157.24. The trade was a 8.43 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

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.