T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock Holdings Lifted by Kestra Investment Management LLC

Kestra Investment Management LLC boosted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 71.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,609 shares of the asset manager's stock after purchasing an additional 3,999 shares during the quarter. Kestra Investment Management LLC's holdings in T. Rowe Price Group were worth $1,087,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TROW. Provident Trust Co. boosted its position in T. Rowe Price Group by 8.9% during the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager's stock worth $295,311,000 after acquiring an additional 213,566 shares during the period. Venturi Wealth Management LLC boosted its position in T. Rowe Price Group by 125.4% during the 4th quarter. Venturi Wealth Management LLC now owns 719 shares of the asset manager's stock worth $81,000 after acquiring an additional 400 shares during the period. Truist Financial Corp boosted its position in T. Rowe Price Group by 5.6% during the 4th quarter. Truist Financial Corp now owns 70,095 shares of the asset manager's stock worth $7,927,000 after acquiring an additional 3,691 shares during the period. CIBC Asset Management Inc boosted its position in T. Rowe Price Group by 2.3% during the 4th quarter. CIBC Asset Management Inc now owns 38,940 shares of the asset manager's stock worth $4,404,000 after acquiring an additional 876 shares during the period. Finally, Baillie Gifford & Co. boosted its position in T. Rowe Price Group by 11.2% during the 4th quarter. Baillie Gifford & Co. now owns 431,485 shares of the asset manager's stock worth $48,797,000 after acquiring an additional 43,291 shares during the period. Institutional investors and hedge funds own 73.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TROW shares. Deutsche Bank Aktiengesellschaft boosted their price target on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a "hold" rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods reiterated 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 report on Thursday, February 6th. Morgan Stanley boosted their price target on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an "equal weight" rating in a research report on Friday, December 20th. Wells Fargo & Company cut 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 report on Thursday, February 6th. Finally, Barclays cut their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating for the company in a report on Thursday, February 6th. 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.com, T. Rowe Price Group presently has a consensus rating of "Hold" and a consensus target price of $115.09.

Insider Transactions at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares in the company, 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 insiders.

T. Rowe Price Group Trading Down 2.0 %

Shares of T. Rowe Price Group stock traded down $2.22 on Friday, reaching $106.27. 1,199,985 shares of the company were exchanged, compared to its average volume of 1,543,894. The stock has a fifty day moving average price of $112.79 and a 200-day moving average price of $112.29. The firm has a market capitalization of $23.66 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 2.85 and a beta of 1.44. T. Rowe Price Group, Inc. has a fifty-two week low of $100.49 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its 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 20.83% and a net margin of 29.61%. During the same period last year, the business earned $1.72 EPS. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $1.27 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.78%. T. Rowe Price Group's payout ratio is 54.15%.

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.