Merit Financial Group LLC Takes Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Merit Financial Group LLC acquired a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 13,280 shares of the asset manager’s stock, valued at approximately $1,502,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Iron Horse Wealth Management LLC raised its position in shares of T. Rowe Price Group by 90.9% during the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after buying an additional 110 shares during the last quarter. Hexagon Capital Partners LLC raised its position in shares of 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 valued at $32,000 after buying an additional 104 shares during the last quarter. True Wealth Design LLC bought a new stake in shares of T. Rowe Price Group during the third quarter valued at approximately $37,000. Larson Financial Group LLC raised its position in shares of T. Rowe Price Group by 866.7% during the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after buying an additional 312 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of T. Rowe Price Group during the third quarter valued at approximately $43,000. Institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Barclays reduced their price target on shares of T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating on the stock in a research report on Friday. Wells Fargo & Company reduced their price target on shares of T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday. 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 report on Monday, November 11th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of 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. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $115.82.

T. Rowe Price Group Trading Up 1.0 %

Shares of TROW opened at $113.21 on Tuesday. The firm has a market capitalization of $25.15 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.42 and a beta of 1.43. T. Rowe Price Group, Inc. has a 12-month low of $100.49 and a 12-month high of $125.81. The firm has a fifty day moving average price of $117.71 and a 200-day moving average price of $112.82.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.17 earnings per share. Analysts predict that T. Rowe Price Group, Inc. will post 9.46 earnings per share 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 issued a $1.24 dividend. 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 currently 54.27%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’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 completion of the transaction, the vice president now directly owns 119,577 shares in the company, 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 document filed with the SEC, which can be accessed through the SEC website. 2.00% of the stock is currently owned by corporate insiders.

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.