Mattern Capital Management LLC Acquires 1,837 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Mattern Capital Management LLC boosted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,212 shares of the asset manager’s stock after purchasing an additional 1,837 shares during the quarter. Mattern Capital Management LLC’s holdings in T. Rowe Price Group were worth $8,393,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of T. Rowe Price Group by 40.2% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,240 shares of the asset manager’s stock valued at $1,045,000 after acquiring an additional 2,649 shares during the period. Cardinal Capital Management raised its holdings in shares of T. Rowe Price Group by 0.7% during the 4th quarter. Cardinal Capital Management now owns 61,417 shares of the asset manager’s stock worth $6,946,000 after buying an additional 452 shares in the last quarter. Kestra Investment Management LLC raised its holdings in shares of T. Rowe Price Group by 71.3% during the 4th quarter. Kestra Investment Management LLC now owns 9,609 shares of the asset manager’s stock worth $1,087,000 after buying an additional 3,999 shares in the last quarter. Provident Trust Co. raised 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 worth $295,311,000 after buying an additional 213,566 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of T. Rowe Price Group by 125.4% during the 4th quarter. Venturi Wealth Management LLC now owns 719 shares of the asset manager’s stock worth $81,000 after buying an additional 400 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TROW. Deutsche Bank Aktiengesellschaft upped their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Wells Fargo & Company lowered their target price on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Evercore ISI upped their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. reduced their price target on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Finally, Morgan Stanley upped their price target on T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $115.09.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the sale, the vice president now directly owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $108.49 on Friday. The firm has a market capitalization of $24.15 billion, a price-to-earnings ratio of 11.84, a P/E/G ratio of 2.85 and a beta of 1.44. T. Rowe Price Group, Inc. has a 52-week low of $100.49 and a 52-week high of $125.81. The stock has a fifty day moving average of $113.06 and a 200 day moving average of $112.27.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share 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 previous year, the company posted $1.72 EPS. Equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s payout ratio is currently 54.15%.

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.