Wealthcare Capital Partners LLC Invests $1.05 Million in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Wealthcare Capital Partners LLC acquired a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 9,314 shares of the asset manager's stock, valued at approximately $1,053,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Sovran Advisors LLC purchased a new stake in shares of T. Rowe Price Group in the 4th quarter valued at approximately $428,000. Stonebridge Financial Group LLC acquired a new stake in T. Rowe Price Group in the 4th quarter valued at approximately $32,000. Summit Trail Advisors LLC raised its position in T. Rowe Price Group by 23.8% in the fourth quarter. Summit Trail Advisors LLC now owns 4,969 shares of the asset manager's stock valued at $562,000 after purchasing an additional 956 shares during the period. Kestra Private Wealth Services LLC raised its position in T. Rowe Price Group by 12.3% in the fourth quarter. Kestra Private Wealth Services LLC now owns 4,730 shares of the asset manager's stock valued at $535,000 after purchasing an additional 518 shares during the period. Finally, Stephens Inc. AR lifted its stake in T. Rowe Price Group by 1,591.7% during the fourth quarter. Stephens Inc. AR now owns 76,041 shares of the asset manager's stock worth $8,599,000 after purchasing an additional 71,546 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

Insider Activity at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group 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 of the company's stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Price Performance

Shares of TROW traded down $0.59 during mid-day trading on Tuesday, reaching $109.03. The company's stock had a trading volume of 1,040,987 shares, compared to its average volume of 1,573,199. T. Rowe Price Group, Inc. has a 12-month low of $100.49 and a 12-month high of $125.81. The stock has a market cap of $24.22 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44. The company's 50 day moving average is $115.50 and its 200 day moving average is $112.50.

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 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.91%. During the same quarter in the previous year, the business earned $1.72 earnings per share. As a group, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.36 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $1.27 per share. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a yield of 4.66%. T. Rowe Price Group's dividend payout ratio (DPR) is currently 54.15%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TROW shares. Barclays dropped their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating for the company in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft boosted 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 research note on Monday, November 11th. StockNews.com cut shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Sunday, February 2nd. Morgan Stanley increased their target price on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the stock an "equal weight" rating in a report on Friday, December 20th. Finally, TD Cowen decreased their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a "hold" rating for the company in a research report on Monday, November 4th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $115.09.

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.