Forum Financial Management LP Takes $334,000 Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Forum Financial Management LP acquired a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,949 shares of the asset manager’s stock, valued at approximately $334,000.

A number of other hedge funds have also recently modified their holdings of TROW. Addison Advisors LLC boosted its stake in T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after acquiring an additional 93 shares in the last quarter. Curio Wealth LLC purchased a new position in shares of T. Rowe Price Group during the fourth quarter valued at approximately $27,000. Y.D. More Investments Ltd boosted its position in shares of T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after purchasing an additional 155 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of T. Rowe Price Group in the 4th quarter worth approximately $32,000. Finally, Advantage Trust Co increased its position in T. Rowe Price Group by 48.8% during the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after buying an additional 100 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the sale, the director now directly owns 42,979 shares of the company’s stock, valued at $3,935,157.24. This trade represents a 8.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the transaction, the vice president now directly owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Down 3.0 %

T. Rowe Price Group stock opened at $83.55 on Tuesday. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81. The company has a market cap of $18.57 billion, a P/E ratio of 9.12, a P/E/G ratio of 2.86 and a beta of 1.50. The business has a 50-day simple moving average of $95.19 and a two-hundred day simple moving average of $108.25.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same quarter in the prior year, the business earned $1.72 EPS. Research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 6.08%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s payout ratio is currently 55.46%.

Analyst Upgrades and Downgrades

TROW has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Barclays dropped their target price on shares of T. Rowe Price Group from $105.00 to $85.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. TD Cowen decreased their price objective on shares of T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. Finally, The Goldman Sachs Group reduced their target price on T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating for the company in a report on Monday, April 14th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus price target of $96.00.

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.