Vest Financial LLC lifted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 17.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 506,737 shares of the asset manager's stock after buying an additional 76,910 shares during the quarter. T. Rowe Price Group comprises 1.0% of Vest Financial LLC's portfolio, making the stock its 21st biggest holding. Vest Financial LLC owned about 0.23% of T. Rowe Price Group worth $57,307,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Czech National Bank increased its stake in T. Rowe Price Group by 6.6% during the 3rd quarter. Czech National Bank now owns 45,345 shares of the asset manager's stock worth $4,939,000 after purchasing an additional 2,793 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in T. Rowe Price Group by 54.7% during the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager's stock worth $32,000 after acquiring an additional 104 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in T. Rowe Price Group by 437.7% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,597 shares of the asset manager's stock valued at $174,000 after buying an additional 1,300 shares in the last quarter. Wynn Capital LLC increased its position in T. Rowe Price Group by 9.5% during the third quarter. Wynn Capital LLC now owns 5,282 shares of the asset manager's stock worth $575,000 after acquiring an additional 460 shares during the period. Finally, First Affirmative Financial Network raised its holdings in T. Rowe Price Group by 15.9% in the 3rd quarter. First Affirmative Financial Network now owns 2,065 shares of the asset manager's stock valued at $225,000 after acquiring an additional 283 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.
T. Rowe Price Group Stock Performance
TROW traded down $2.11 during midday trading on Wednesday, hitting $106.92. The stock had a trading volume of 1,601,632 shares, compared to its average volume of 1,574,208. T. Rowe Price Group, Inc. has a 1 year low of $100.49 and a 1 year high of $125.81. The business has a fifty day moving average of $115.21 and a 200 day moving average of $112.48. The company has a market cap of $23.75 billion, a P/E ratio of 11.67, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.61%. During the same quarter in the previous year, the firm earned $1.72 earnings per share. On average, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.36 earnings per share for the current 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 paid a $1.27 dividend. This is a boost 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 4.75%. The ex-dividend date is Friday, March 14th. T. Rowe Price Group's dividend payout ratio is currently 54.15%.
Wall Street Analysts Forecast Growth
TROW has been the subject of several recent analyst reports. Wells Fargo & Company cut their target price 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. JPMorgan Chase & Co. lowered their target price on T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating for the company in a report on Monday, November 4th. TD Cowen reduced 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. Barclays lowered their target price on shares of 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. Finally, Morgan Stanley raised their price objective on T. Rowe Price Group from $129.00 to $132.00 and gave the company an "equal weight" rating in a research note on Friday, December 20th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $115.09.
Read Our Latest Research Report on T. Rowe Price Group
Insider Transactions at T. Rowe Price Group
In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm's 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 sale, the vice president now owns 119,577 shares of the company's stock, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Arif Husain sold 4,112 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the transaction, the vice president now owns 36,800 shares in the company, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.
About T. Rowe Price Group
(
Free Report)
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.
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