HB Wealth Management LLC Acquires 296 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

HB Wealth Management LLC raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 12.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,691 shares of the asset manager’s stock after purchasing an additional 296 shares during the quarter. HB Wealth Management LLC’s holdings in T. Rowe Price Group were worth $304,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in T. Rowe Price Group by 2.8% in the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock valued at $30,062,000 after acquiring an additional 7,503 shares during the period. Janus Henderson Group PLC boosted its stake in T. Rowe Price Group by 3.8% in the 3rd quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock valued at $3,267,000 after purchasing an additional 1,100 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in T. Rowe Price Group in the 2nd quarter valued at $15,907,000. Aigen Investment Management LP bought a new position in T. Rowe Price Group during the 3rd quarter worth $516,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of T. Rowe Price Group by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock valued at $745,169,000 after acquiring an additional 231,286 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’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 transaction, the vice president now directly owns 119,577 shares of the company’s stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Down 0.1 %

Shares of TROW stock opened at $113.38 on Friday. 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 $25.19 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 1.68 and a beta of 1.43. The stock has a 50-day moving average of $117.44 and a 200-day moving average of $112.80.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) 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 firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the business earned $2.17 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. 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 company also recently announced 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 yield of 4.37%. T. Rowe Price Group’s payout ratio is 54.27%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TROW shares. TD Cowen reduced their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Monday, November 11th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Morgan Stanley raised their price target 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. Finally, Wells Fargo & Company lowered their price objective on shares of T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $115.82.

About T. Rowe Price Group

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.