1,025 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Purchased by Planned Solutions Inc.

Planned Solutions Inc. bought a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,025 shares of the asset manager’s stock, valued at approximately $110,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Simmons Bank boosted its stake in shares of T. Rowe Price Group by 23.0% during the third quarter. Simmons Bank now owns 3,503 shares of the asset manager’s stock valued at $367,000 after purchasing an additional 656 shares during the period. Nordea Investment Management AB grew its stake in T. Rowe Price Group by 3.5% in the 4th quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock worth $34,299,000 after acquiring an additional 10,680 shares in the last quarter. Vest Financial LLC increased its holdings in T. Rowe Price Group by 48.8% during the 4th quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock worth $30,213,000 after purchasing an additional 92,059 shares during the period. Neo Ivy Capital Management bought a new stake in T. Rowe Price Group during the 2nd quarter valued at $1,196,000. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of T. Rowe Price Group by 11.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 297,846 shares of the asset manager’s stock worth $31,235,000 after buying an additional 30,899 shares during the period. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Up 2.5 %

Shares of T. Rowe Price Group stock opened at $120.86 on Thursday. The company has a 50 day moving average price of $112.11 and a 200 day moving average price of $105.55. The firm has a market capitalization of $27.03 billion, a P/E ratio of 15.57, a PEG ratio of 2.35 and a beta of 1.39. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.12. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the prior year, the firm earned $1.74 EPS. The firm’s revenue was up 6.5% on a year-over-year basis. As a group, research analysts anticipate that T. Rowe Price Group, Inc. will post 7.75 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 15th will be paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.10%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend is Thursday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 63.92%.

Insider Buying and Selling

In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction that occurred on 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 owns 21,073 shares in the company, valued at approximately $2,493,357.36. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Jessica M. Hiebler sold 1,138 shares of the firm’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 sale, the insider now directly owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group stock in a transaction that occurred on 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 owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on TROW shares. UBS Group upped their price objective on shares of T. Rowe Price Group from $86.00 to $102.00 and gave the stock a “sell” rating in a research note on Wednesday, January 10th. Morgan Stanley increased their price objective on shares of T. Rowe Price Group from $101.00 to $106.00 and gave the company an “equal weight” rating in a research note on Friday, January 19th. JPMorgan Chase & Co. boosted their price objective on shares of T. Rowe Price Group from $90.00 to $94.00 and gave the stock an “underweight” rating in a research note on Friday, February 9th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, Wells Fargo & Company boosted their price target on T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a research report on Friday, February 9th. Six equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat, T. Rowe Price Group currently has an average rating of “Reduce” and a consensus target price of $97.30.

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.