Ghe LLC Buys 232 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Ghe LLC grew its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 18,907 shares of the asset manager’s stock after acquiring an additional 232 shares during the period. T. Rowe Price Group makes up 1.2% of Ghe LLC’s investment portfolio, making the stock its 19th largest position. Ghe LLC’s holdings in T. Rowe Price Group were worth $2,036,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TROW. Charles Schwab Investment Management Inc. increased its stake in T. Rowe Price Group by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock worth $513,874,000 after purchasing an additional 134,839 shares in the last quarter. Morgan Stanley increased its stake in T. Rowe Price Group by 0.7% during the 3rd quarter. Morgan Stanley now owns 3,483,350 shares of the asset manager’s stock worth $365,299,000 after purchasing an additional 25,012 shares in the last quarter. Northern Trust Corp increased its stake in T. Rowe Price Group by 4.1% during the 3rd quarter. Northern Trust Corp now owns 2,356,132 shares of the asset manager’s stock worth $247,088,000 after purchasing an additional 93,829 shares in the last quarter. Bank of New York Mellon Corp increased its stake in T. Rowe Price Group by 2.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,271,065 shares of the asset manager’s stock worth $238,167,000 after purchasing an additional 44,175 shares in the last quarter. Finally, Invesco Ltd. increased its stake in T. Rowe Price Group by 7.6% during the 3rd quarter. Invesco Ltd. now owns 1,684,057 shares of the asset manager’s stock worth $176,607,000 after purchasing an additional 119,305 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Stock Down 0.8 %

Shares of TROW stock traded down $0.88 during mid-day trading on Wednesday, reaching $111.06. 1,053,896 shares of the stock traded hands, compared to its average volume of 1,415,362. The company has a market cap of $24.84 billion, a price-to-earnings ratio of 14.31, a price-to-earnings-growth ratio of 2.09 and a beta of 1.40. The stock’s fifty day simple moving average is $114.98 and its two-hundred day simple moving average is $106.98. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.12. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. T. Rowe Price Group’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.74 EPS. On average, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 8.36 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.47%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend was Thursday, March 14th. T. Rowe Price Group’s payout ratio is currently 63.92%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TROW shares. JPMorgan Chase & Co. raised their price target on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. UBS Group raised their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. TD Cowen raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and raised their price target for the stock from $92.00 to $114.00 in a research note on Monday, April 8th. Finally, Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. Four analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $112.67.

Insiders Place Their Bets

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the transaction, the director now directly owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the transaction, the insider now directly owns 14,113 shares in the company, valued at $1,511,925.69. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

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.