NEOS Investment Management LLC Has $1.25 Million Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

NEOS Investment Management LLC grew its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 28.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,090 shares of the asset manager’s stock after purchasing an additional 2,484 shares during the period. NEOS Investment Management LLC’s holdings in T. Rowe Price Group were worth $1,254,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Addison Advisors LLC lifted its stake in shares of T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 93 shares during the last quarter. Curio Wealth LLC bought a new position in T. Rowe Price Group during the fourth quarter valued at about $27,000. Y.D. More Investments Ltd lifted its position in shares of T. Rowe Price Group by 124.0% in the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after buying an additional 155 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of T. Rowe Price Group during the 4th quarter worth about $32,000. Finally, Advantage Trust Co increased its holdings in shares of T. Rowe Price Group by 48.8% during the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 100 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the sale, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

TROW has been the subject of a number of recent analyst reports. Barclays decreased their target price on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. 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. Morgan Stanley lowered their price target on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. Finally, Wells Fargo & Company cut their price objective on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $114.09.

T. Rowe Price Group Stock Down 3.3 %

Shares of TROW opened at $91.57 on Friday. The stock’s 50-day moving average price is $104.61 and its 200 day moving average price is $110.87. The firm has a market capitalization of $20.35 billion, a price-to-earnings ratio of 10.00, a P/E/G ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 12-month low of $91.10 and a 12-month high of $125.81.

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 firm earned $1.72 EPS. Equities research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $1.27 dividend. 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 dividend yield of 5.55%. The ex-dividend date was Friday, March 14th. T. Rowe Price Group’s dividend payout ratio is currently 55.46%.

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.