MOKAN Wealth Management Inc. Purchases New Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

MOKAN Wealth Management Inc. acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 5,063 shares of the asset manager's stock, valued at approximately $573,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Allworth Financial LP increased its stake in T. Rowe Price Group by 14.2% during the fourth quarter. Allworth Financial LP now owns 7,414 shares of the asset manager's stock worth $842,000 after acquiring an additional 922 shares during the last quarter. Principal Securities Inc. increased its stake in T. Rowe Price Group by 10.0% during the fourth quarter. Principal Securities Inc. now owns 1,905 shares of the asset manager's stock worth $215,000 after acquiring an additional 173 shares during the last quarter. Congress Asset Management Co. increased its stake in T. Rowe Price Group by 0.7% during the fourth quarter. Congress Asset Management Co. now owns 139,319 shares of the asset manager's stock worth $15,756,000 after acquiring an additional 1,013 shares during the last quarter. PUREfi Wealth LLC acquired a new stake in T. Rowe Price Group during the fourth quarter worth $257,000. Finally, Valeo Financial Advisors LLC increased its stake in T. Rowe Price Group by 3.5% during the fourth quarter. Valeo Financial Advisors LLC now owns 2,996 shares of the asset manager's stock worth $339,000 after acquiring an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

Insiders Place Their Bets

In other news, VP Arif Husain sold 4,112 shares of the business's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the sale, the vice president now directly owns 36,800 shares of the company's stock, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value 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 $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Trading Up 0.1 %

NASDAQ:TROW traded up $0.13 during midday trading on Thursday, reaching $108.49. The company had a trading volume of 1,161,137 shares, compared to its average volume of 1,554,313. The firm has a market capitalization of $24.15 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 2.84 and a beta of 1.44. The stock's fifty day simple moving average is $113.31 and its 200-day simple moving average is $112.30. T. Rowe Price Group, Inc. has a 12-month low of $100.49 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.61%. During the same period in the previous year, the company earned $1.72 EPS. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS 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. Shareholders of record on Friday, March 14th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 4.68%. This is an increase from T. Rowe Price Group's previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. T. Rowe Price Group's payout ratio is 55.46%.

Analyst Upgrades and Downgrades

TROW has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $113.00 target price (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Evercore ISI lifted their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company an "in-line" rating in a research note on Thursday, November 7th. TD Cowen dropped their price objective on T. Rowe Price Group from $120.00 to $116.00 and set a "hold" rating for the company in a research note on Monday, November 4th. StockNews.com cut T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. Finally, Wells Fargo & Company dropped their price objective on T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating for the company 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $115.09.

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.