Colonial River Wealth Management LLC Invests $263,000 in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Colonial River Wealth Management LLC acquired a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Rating) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 2,416 shares of the asset manager’s stock, valued at approximately $263,000.

A number of other large investors have also recently made changes to their positions in the business. Zullo Investment Group Inc. raised its stake in T. Rowe Price Group by 164.6% during the third quarter. Zullo Investment Group Inc. now owns 254 shares of the asset manager’s stock valued at $27,000 after buying an additional 158 shares during the last quarter. Beacon Capital Management LLC increased its position in T. Rowe Price Group by 61.3% during the fourth quarter. Beacon Capital Management LLC now owns 250 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 95 shares during the last quarter. Eisler Capital UK Ltd. purchased a new stake in T. Rowe Price Group during the third quarter valued at $29,000. Asset Dedication LLC grew its holdings in T. Rowe Price Group by 173.8% during the fourth quarter. Asset Dedication LLC now owns 293 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 186 shares during the period. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new stake in T. Rowe Price Group during the fourth quarter valued at about $32,000. 76.58% of the stock is currently owned by institutional investors.

Insider Transactions at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 1,881 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $106.66, for a total transaction of $200,627.46. Following the completion of the transaction, the insider now directly owns 11,628 shares of the company’s stock, valued at approximately $1,240,242.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.10% of the stock is currently owned by company insiders.

T. Rowe Price Group Stock Performance

NASDAQ TROW traded up $1.41 during trading hours on Friday, hitting $105.50. The company had a trading volume of 270,738 shares, compared to its average volume of 1,549,704. T. Rowe Price Group, Inc. has a 1-year low of $93.53 and a 1-year high of $134.64. The company has a market cap of $23.69 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. The business has a 50 day moving average of $108.95 and a 200-day moving average of $113.97.

T. Rowe Price Group (NASDAQ:TROW – Get Rating) last issued its earnings results on Tuesday, May 2nd. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.07. T. Rowe Price Group had a net margin of 22.90% and a return on equity of 17.92%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the prior year, the business posted $2.62 EPS. The company’s revenue for the quarter was down 17.5% on a year-over-year basis. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 6.63 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 29th. Stockholders of record on Thursday, June 15th will be paid a dividend of $1.22 per share. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $4.88 annualized dividend and a dividend yield of 4.63%. T. Rowe Price Group’s dividend payout ratio (DPR) is 79.87%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TROW. 22nd Century Group reiterated a “maintains” rating on shares of T. Rowe Price Group in a report on Wednesday, May 3rd. Credit Suisse Group dropped their price objective on T. Rowe Price Group from $70.00 to $65.00 and set an “underperform” rating on the stock in a research note on Friday, January 27th. Citigroup began coverage on T. Rowe Price Group in a research note on Friday, May 19th. They issued a “sell” rating and a $98.00 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on T. Rowe Price Group from $121.00 to $113.00 and set a “hold” rating on the stock in a research report on Friday, January 27th. Finally, Evercore ISI dropped their target price on T. Rowe Price Group from $101.00 to $98.00 and set an “in-line” rating on the stock in a research report on Thursday, April 13th. Six research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat.com, T. Rowe Price Group has a consensus rating of “Hold” and a consensus price target of $93.73.

T. Rowe Price Group Company Profile

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T. Rowe Price Group, Inc engages in the provision of investment management services. The company was founded by Thomas Rowe Price Jr. in 1937 and is headquartered in Baltimore, MD.