GWN Securities Inc. Acquires New Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW)

GWN Securities Inc. acquired a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 2,047 shares of the asset manager’s stock, valued at approximately $234,000.

Several other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of T. Rowe Price Group by 5.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock valued at $812,798,000 after acquiring an additional 346,369 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of T. Rowe Price Group by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager’s stock valued at $598,801,000 after acquiring an additional 25,481 shares in the last quarter. Provident Trust Co. boosted its holdings in shares of T. Rowe Price Group by 8.9% during the 4th 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. Fisher Asset Management LLC lifted its holdings in T. Rowe Price Group by 0.5% during the 4th quarter. Fisher Asset Management LLC now owns 1,870,446 shares of the asset manager’s stock worth $211,529,000 after buying an additional 8,992 shares during the period. Finally, Amundi lifted its holdings in T. Rowe Price Group by 30.1% during the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock worth $194,064,000 after buying an additional 397,278 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $94.31 on Tuesday. T. Rowe Price Group, Inc. has a 1 year low of $91.37 and a 1 year high of $125.81. The company has a market capitalization of $21.00 billion, a price-to-earnings ratio of 10.30, a P/E/G ratio of 2.86 and a beta of 1.46. The business’s 50-day moving average is $107.87 and its 200-day moving average is $111.57.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing analysts’ consensus estimates 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 earnings per share. Analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 5.39%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date is Friday, March 14th. T. Rowe Price Group’s payout ratio is presently 55.46%.

Analyst Ratings Changes

TROW has been the topic of several recent research reports. Wells Fargo & Company cut their target price on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Morgan Stanley cut their target price on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Barclays cut their target price on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group has a consensus rating of “Hold” and an average target price of $114.09.

Insider Activity at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the business’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 sale, the vice president now directly owns 36,800 shares of the company’s stock, valued at $4,021,136. The trade was a 10.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.00% of the stock is currently owned by corporate insiders.

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.