Jones Financial Companies Lllp Grows Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Jones Financial Companies Lllp boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 64.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,912 shares of the asset manager's stock after buying an additional 3,098 shares during the quarter. Jones Financial Companies Lllp's holdings in T. Rowe Price Group were worth $895,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Addison Advisors LLC raised its stake 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 valued at $26,000 after acquiring an additional 93 shares during the last quarter. Y.D. More Investments Ltd lifted its holdings in T. Rowe Price Group by 124.0% during the 4th 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 during the period. Stonebridge Financial Group LLC acquired a new position in T. Rowe Price Group during the 4th quarter worth about $32,000. Advantage Trust Co grew its position 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 valued at $34,000 after buying an additional 100 shares during the last quarter. Finally, True Wealth Design LLC acquired a new stake in shares of T. Rowe Price Group in the third quarter valued at about $37,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Trading Down 2.9 %

Shares of NASDAQ:TROW traded down $2.82 during mid-day trading on Wednesday, hitting $93.49. 2,197,372 shares of the company traded hands, compared to its average volume of 1,646,195. The stock has a market cap of $20.81 billion, a P/E ratio of 10.21, a P/E/G ratio of 2.86 and a beta of 1.46. The stock has a 50-day moving average price of $109.53 and a two-hundred day moving average price of $111.97. T. Rowe Price Group, Inc. has a 12-month low of $92.79 and a 12-month high of $125.81.

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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 (EPS) 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 quarter in the prior year, the business posted $1.72 earnings per share. As a group, 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 firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.43%. This is an increase from T. Rowe Price Group's previous quarterly dividend of $1.24. The ex-dividend date is Friday, March 14th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 55.46%.

Analysts Set New Price Targets

Several research analysts have issued reports on TROW shares. Keefe, Bruyette & Woods restated 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 report on Thursday, February 6th. Morgan Stanley lowered their target price on T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating for the company in a report on Monday, February 24th. Barclays cut their price target on 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. StockNews.com lowered shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. Finally, Wells Fargo & Company cut their target price on shares of 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. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $114.09.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the business's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the transaction, the vice president now directly owns 36,800 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is currently owned by corporate insiders.

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.