Flywheel Private Wealth LLC Acquires New Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Flywheel Private Wealth LLC purchased a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,860 shares of the asset manager's stock, valued at approximately $323,000.

A number of other hedge funds also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its stake in shares of T. Rowe Price Group by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager's stock valued at $745,169,000 after acquiring an additional 231,286 shares during the period. Geode Capital Management LLC raised its stake in shares of T. Rowe Price Group by 0.5% in the third quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager's stock valued at $598,801,000 after acquiring an additional 25,481 shares during the period. Provident Trust Co. raised its stake in shares of T. Rowe Price Group by 0.3% in the third quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager's stock valued at $261,185,000 after acquiring an additional 7,905 shares during the period. Fisher Asset Management LLC raised its stake in shares of T. Rowe Price Group by 2.6% in the third quarter. Fisher Asset Management LLC now owns 1,861,454 shares of the asset manager's stock valued at $202,768,000 after acquiring an additional 47,998 shares during the period. Finally, ProShare Advisors LLC raised its stake in shares of T. Rowe Price Group by 2.5% in the second quarter. ProShare Advisors LLC now owns 1,635,519 shares of the asset manager's stock valued at $188,592,000 after acquiring an additional 40,490 shares during the period. Hedge funds and other institutional investors own 73.39% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TROW. Barclays upped their price target on shares of T. Rowe Price Group from $110.00 to $115.00 and gave the stock an "underweight" rating in a report on Monday, December 9th. Keefe, Bruyette & Woods cut their price target on shares of T. Rowe Price Group from $116.00 to $111.00 and set a "market perform" rating on the stock in a report on Monday. TD Cowen cut their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a "hold" rating on the stock in a report on Monday, November 4th. Evercore ISI upped their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an "in-line" rating in a report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a "hold" rating in a report on Monday, November 11th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $116.00.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the sale, the vice president now directly 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 filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.00% of the company's stock.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock traded down $1.19 during midday trading on Thursday, hitting $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 12 month low of $100.49 and a 12 month high of $125.81. The firm has a 50-day moving average of $117.96 and a two-hundred day moving average of $112.86. The company has a market cap of $24.91 billion, a PE ratio of 12.27, a P/E/G ratio of 1.42 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results 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 analysts' expectations of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The firm's quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.17 EPS. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 9.46 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

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

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.