Principle Wealth Partners LLC Purchases 150 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Principle Wealth Partners LLC raised its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.7% during the fourth quarter, HoldingsChannel reports. The firm owned 9,137 shares of the asset manager’s stock after purchasing an additional 150 shares during the quarter. Principle Wealth Partners LLC’s holdings in T. Rowe Price Group were worth $984,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. OFI Invest Asset Management acquired a new position in T. Rowe Price Group during the 3rd quarter valued at approximately $25,000. Creative Financial Designs Inc. ADV boosted its holdings in shares of T. Rowe Price Group by 83.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 106 shares during the last quarter. Park Place Capital Corp boosted its holdings in shares of T. Rowe Price Group by 1,775.0% in the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 284 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in shares of T. Rowe Price Group in the 4th quarter valued at $33,000. Finally, NBC Securities Inc. purchased a new stake in shares of T. Rowe Price Group in the 3rd quarter valued at $39,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

TROW has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, February 9th. Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. Citigroup increased their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. JPMorgan Chase & Co. raised their price target on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. Finally, StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Four research analysts have rated the stock with a sell rating and six have issued 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.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $114.02 on Monday. The stock’s fifty day moving average is $115.10 and its two-hundred day moving average is $107.10. The firm has a market capitalization of $25.50 billion, a P/E ratio of 13.54, a PEG ratio of 2.14 and a beta of 1.40. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.34. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. T. Rowe Price Group had a return on equity of 19.80% and a net margin of 29.09%. T. Rowe Price Group’s revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.69 EPS. On average, equities analysts forecast that T. Rowe Price Group, Inc. will post 8.36 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $1.24 dividend. The ex-dividend date was Thursday, March 14th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.35%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s payout ratio is presently 58.91%.

Insider Activity

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