Assetmark Inc. Has $55.61 Million Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Assetmark Inc. raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 491,726 shares of the asset manager's stock after acquiring an additional 10,488 shares during the period. Assetmark Inc. owned about 0.22% of T. Rowe Price Group worth $55,609,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Keystone Financial Services grew its holdings in shares of T. Rowe Price Group by 5.1% during the third quarter. Keystone Financial Services now owns 1,885 shares of the asset manager's stock worth $205,000 after purchasing an additional 92 shares during the last quarter. MCF Advisors LLC grew its holdings in shares of T. Rowe Price Group by 1.5% during the fourth quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager's stock worth $704,000 after purchasing an additional 93 shares during the last quarter. Addison Advisors LLC grew its holdings in shares of 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 purchasing an additional 93 shares during the last quarter. Strategy Asset Managers LLC grew its holdings in shares of T. Rowe Price Group by 4.6% during the third quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager's stock worth $236,000 after purchasing an additional 95 shares during the last quarter. Finally, Brooklyn Investment Group grew its holdings in shares of T. Rowe Price Group by 24.6% during the fourth quarter. Brooklyn Investment Group now owns 497 shares of the asset manager's stock worth $56,000 after purchasing an additional 98 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction on Tuesday, December 10th. The stock was 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 directly owns 119,577 shares of the company's stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 directly owns 36,800 shares of the company's stock, valued at $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TROW has been the topic of several research analyst reports. Morgan Stanley decreased their target price on T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating on the stock in a report on Monday, February 24th. StockNews.com lowered T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. Wells Fargo & Company cut their price target on T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upped their price target on T. Rowe Price Group from $115.00 to $120.00 and gave the company a "hold" rating in a research note on Monday, November 11th. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $114.09.

T. Rowe Price Group Stock Up 1.8 %

Shares of NASDAQ TROW traded up $1.77 during midday trading on Friday, hitting $100.66. 2,533,964 shares of the company's stock were exchanged, compared to its average volume of 1,608,410. T. Rowe Price Group, Inc. has a 12 month low of $97.26 and a 12 month high of $125.81. The company's 50 day moving average price is $110.17 and its 200 day moving average price is $112.09. The firm has a market capitalization of $22.41 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate 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 earned $1.72 EPS. On average, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The company also recently declared 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. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a yield of 5.05%. The ex-dividend date of this dividend is Friday, March 14th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 55.46%.

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.