T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock Position Lifted by Keystone Financial Planning Inc.

Keystone Financial Planning Inc. boosted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 70,831 shares of the asset manager’s stock after acquiring an additional 985 shares during the period. T. Rowe Price Group makes up about 2.5% of Keystone Financial Planning Inc.’s portfolio, making the stock its 8th largest holding. Keystone Financial Planning Inc.’s holdings in T. Rowe Price Group were worth $8,010,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TROW. Iron Horse Wealth Management LLC lifted its stake in shares of T. Rowe Price Group by 90.9% in the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after buying an additional 110 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of T. Rowe Price Group by 54.7% in the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after buying an additional 104 shares during the last quarter. True Wealth Design LLC acquired a new position in T. Rowe Price Group during the 3rd quarter valued at $37,000. Larson Financial Group LLC raised its stake in T. Rowe Price Group by 866.7% during the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 312 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in T. Rowe Price Group during the 3rd quarter valued at $43,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW traded up $2.12 during mid-day trading on Monday, hitting $110.67. The company’s stock had a trading volume of 1,214,644 shares, compared to its average volume of 1,228,739. The stock has a market cap of $24.59 billion, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 1.73 and a beta of 1.43. T. Rowe Price Group, Inc. has a one year low of $100.49 and a one year high of $125.81. The company’s fifty day simple moving average is $118.21 and its 200-day simple moving average is $112.92.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the firm earned $2.17 EPS. T. Rowe Price Group’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.39 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend was Friday, December 13th. T. Rowe Price Group’s payout ratio is 54.27%.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction that occurred 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 owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TROW shares. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Thursday. Evercore ISI upped their target price on shares of 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. The Goldman Sachs Group cut their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research note on Thursday, October 3rd. Barclays boosted their price target on shares of T. Rowe Price Group from $110.00 to $115.00 and gave the company an “underweight” rating in a report on Monday, December 9th. Finally, TD Cowen lowered their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and an average price target of $116.55.

T. Rowe Price Group Company 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.