Fiduciary Financial Group LLC Makes New $269,000 Investment in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Fiduciary Financial Group LLC purchased a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,477 shares of the asset manager's stock, valued at approximately $269,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Iron Horse Wealth Management LLC raised its position in shares of T. Rowe Price Group by 90.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager's stock worth $25,000 after buying an additional 110 shares during the period. Hexagon Capital Partners LLC raised its holdings in shares of T. Rowe Price Group by 54.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager's stock worth $32,000 after purchasing an additional 104 shares during the period. True Wealth Design LLC purchased a new position in shares of T. Rowe Price Group in the 3rd quarter worth about $37,000. Larson Financial Group LLC lifted its stake in shares of T. Rowe Price Group by 866.7% in the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager's stock valued at $38,000 after purchasing an additional 312 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of T. Rowe Price Group during the 3rd quarter worth about $43,000. Institutional investors and hedge funds own 73.39% of the company's stock.

Insiders Place Their Bets

In other T. Rowe Price Group 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 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 in the company, valued at $14,749,822.95. This represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW traded down $1.19 during midday trading on Thursday, reaching $112.13. 1,195,040 shares of the company's stock were exchanged, compared to its average volume of 1,362,294. T. Rowe Price Group, Inc. has a 52-week low of $100.49 and a 52-week high of $125.81. The business's fifty day moving average price is $117.96 and its two-hundred day moving average price is $112.86. The stock has a market capitalization of $24.91 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 1.42 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.21. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. T. Rowe Price Group's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.17 EPS. Analysts predict that T. Rowe Price Group, Inc. will post 9.46 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a $1.24 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.42%. T. Rowe Price Group's dividend payout ratio is presently 54.27%.

Analyst Ratings Changes

TROW has been the topic of several research reports. The Goldman Sachs Group cut their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a "sell" rating on the stock in a report on Thursday, October 3rd. Keefe, Bruyette & Woods cut their target price on shares of T. Rowe Price Group from $116.00 to $111.00 and set a "market perform" rating on the stock in a research note on Monday. StockNews.com cut shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Thursday, January 9th. Wells Fargo & Company cut their price objective on T. Rowe Price Group from $124.00 to $118.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Finally, TD Cowen decreased their target price on T. Rowe Price Group from $120.00 to $116.00 and set a "hold" rating for the company in a research report on Monday, November 4th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $116.00.

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.