Wealthspire Advisors LLC Buys 344 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Wealthspire Advisors LLC raised its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,505 shares of the asset manager’s stock after acquiring an additional 344 shares during the period. Wealthspire Advisors LLC’s holdings in T. Rowe Price Group were worth $1,414,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Y.D. More Investments Ltd boosted its holdings in T. Rowe Price Group by 124.0% during the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after purchasing an additional 155 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in shares of T. Rowe Price Group during the 4th quarter worth approximately $32,000. Advantage Trust Co boosted its stake in shares of T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after buying an additional 100 shares during the last quarter. True Wealth Design LLC bought a new position in shares of T. Rowe Price Group in the third quarter valued at approximately $37,000. Finally, Iron Horse Wealth Management LLC grew its holdings in shares of T. Rowe Price Group by 47.6% in the fourth quarter. Iron Horse Wealth Management LLC now owns 341 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 110 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was 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 of the company’s stock, valued at $14,749,822.95. This trade 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. Also, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the transaction, the vice president now directly owns 36,800 shares of the company’s stock, valued at $4,021,136. The trade was a 10.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TROW shares. Barclays cut their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. TD Cowen cut 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. Evercore ISI raised their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Finally, JPMorgan Chase & Co. reduced 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 research report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group has a consensus rating of “Hold” and an average target price of $114.09.

T. Rowe Price Group Trading Up 0.3 %

T. Rowe Price Group stock opened at $106.57 on Tuesday. The firm has a 50 day simple moving average of $112.54 and a 200 day simple moving average of $112.43. T. Rowe Price Group, Inc. has a 1-year low of $100.49 and a 1-year high of $125.81. The firm has a market capitalization of $23.73 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 2.86 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data 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 net margin of 29.61% and a return on equity of 20.83%. During the same period in the prior year, the business earned $1.72 EPS. On average, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 4.77%. 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. T. Rowe Price Group’s dividend payout ratio is 55.46%.

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.