Martel Wealth Advisors Inc Acquires New Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Martel Wealth Advisors Inc bought a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the fourth quarter, HoldingsChannel reports. The firm bought 3,000 shares of the asset manager’s stock, valued at approximately $339,000.

Other hedge funds have also recently bought and sold shares of the company. Iron Horse Wealth Management LLC boosted its holdings in shares of T. Rowe Price Group by 90.9% during the 3rd 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 period. 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 purchasing an additional 104 shares during the period. True Wealth Design LLC acquired a new position in shares of T. Rowe Price Group in the 3rd quarter valued at approximately $37,000. Larson Financial Group LLC lifted its holdings in shares of 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 worth $38,000 after acquiring an additional 312 shares during the period. Finally, Brooklyn Investment Group bought a new position in T. Rowe Price Group in the third quarter valued at approximately $43,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TROW has been the topic of a number of research analyst reports. The Goldman Sachs Group reduced their target price on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a report on Thursday, October 3rd. Keefe, Bruyette & Woods decreased their target price on T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating on the stock in a research report on Monday, January 13th. JPMorgan Chase & Co. dropped their target price on shares of 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 decreased 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. Finally, Morgan Stanley increased their price objective on shares of 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 equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $115.82.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’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 sale, the vice president now owns 119,577 shares in the company, valued at $14,749,822.95. This represents a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.00% of the stock is owned by insiders.

T. Rowe Price Group Trading Up 1.0 %

Shares of TROW stock opened at $113.21 on Tuesday. T. Rowe Price Group, Inc. has a 1-year low of $100.49 and a 1-year high of $125.81. The stock has a market cap of $25.15 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.67 and a beta of 1.43. The stock has a 50-day moving average of $117.71 and a 200-day moving average of $112.82.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.17 EPS. Sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.45 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $1.24 per share. The ex-dividend date was Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.38%. T. Rowe Price Group’s payout ratio is 54.27%.

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.