Covestor Ltd Has $218,000 Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Covestor Ltd boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 23.2% in the fourth quarter, HoldingsChannel reports. The firm owned 1,930 shares of the asset manager’s stock after buying an additional 364 shares during the period. Covestor Ltd’s holdings in T. Rowe Price Group were worth $218,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TROW. Vanguard Group Inc. grew its stake in shares of T. Rowe Price Group by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager’s stock valued at $2,947,559,000 after buying an additional 135,203 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in T. Rowe Price Group by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock worth $812,798,000 after acquiring an additional 346,369 shares in the last quarter. Geode Capital Management LLC grew its stake in T. Rowe Price Group by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager’s stock valued at $635,260,000 after acquiring an additional 116,231 shares during the period. Provident Trust Co. increased its holdings in shares of T. Rowe Price Group by 8.9% during the fourth quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock valued at $295,311,000 after acquiring an additional 213,566 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of T. Rowe Price Group by 1.7% during the fourth quarter. Invesco Ltd. now owns 2,397,819 shares of the asset manager’s stock worth $271,169,000 after purchasing an additional 40,514 shares during the period. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $85.94 on Friday. The firm’s 50-day simple moving average is $98.52 and its two-hundred day simple moving average is $109.29. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The firm has a market cap of $19.10 billion, a price-to-earnings ratio of 9.38, a P/E/G ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share 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 period in the prior year, the business earned $1.72 EPS. Analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a yield of 5.91%. T. Rowe Price Group’s dividend payout ratio is 55.46%.

Insiders Place Their Bets

In related news, VP Arif Husain sold 4,112 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the sale, the vice president now owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. This represents a 10.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $362,119.80. Following the completion of the transaction, the director now owns 42,979 shares of the company’s stock, valued at approximately $3,935,157.24. This represents a 8.43 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

TROW has been the subject of several research reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Barclays reduced their price objective on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. TD Cowen lowered their target price on shares of T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday. Citigroup dropped their price target on shares of T. Rowe Price Group from $120.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, March 31st. Finally, The Goldman Sachs Group decreased their price objective on T. Rowe Price Group from $103.00 to $89.00 and set a “sell” rating for the company in a report on Thursday, April 3rd. Five research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $104.75.

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.