Strategic Investment Advisors MI Makes New $927,000 Investment in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Strategic Investment Advisors MI bought a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,122 shares of the asset manager’s stock, valued at approximately $927,000.

Other institutional investors have also recently modified their holdings of the company. First Bank & Trust raised its holdings in T. Rowe Price Group by 3.5% during the third quarter. First Bank & Trust now owns 2,082 shares of the asset manager’s stock valued at $267,000 after acquiring an additional 71 shares during the period. Verdence Capital Advisors LLC lifted its holdings in shares of T. Rowe Price Group by 0.6% in the third quarter. Verdence Capital Advisors LLC now owns 12,650 shares of the asset manager’s stock worth $1,622,000 after buying an additional 78 shares in the last quarter. Smithfield Trust Co. increased its holdings in T. Rowe Price Group by 21.9% in the 3rd quarter. Smithfield Trust Co. now owns 439 shares of the asset manager’s stock valued at $56,000 after acquiring an additional 79 shares during the last quarter. Global Retirement Partners LLC lifted its stake in T. Rowe Price Group by 7.6% in the 3rd quarter. Global Retirement Partners LLC now owns 1,188 shares of the asset manager’s stock worth $152,000 after purchasing an additional 84 shares in the last quarter. Finally, Johnson Investment Counsel Inc. boosted its holdings in shares of T. Rowe Price Group by 0.4% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 20,543 shares of the asset manager’s stock valued at $2,634,000 after purchasing an additional 90 shares during the last quarter. 68.06% of the stock is owned by institutional investors.

A number of equities research analysts recently commented on the company. Morgan Stanley boosted their target price on T. Rowe Price Group from $152.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Monday. BidaskClub cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 29th. Bank of America cut shares of T. Rowe Price Group from a “buy” rating to a “neutral” rating and set a $154.00 price objective for the company. in a research note on Thursday, November 19th. The Goldman Sachs Group upgraded shares of T. Rowe Price Group from a “sell” rating to a “neutral” rating and upped their target price for the company from $134.00 to $170.00 in a research report on Tuesday, January 5th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on T. Rowe Price Group from $145.00 to $150.00 in a research report on Wednesday, November 11th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. T. Rowe Price Group presently has a consensus rating of “Hold” and an average target price of $134.92.

In other news, VP Christopher D. Alderson sold 8,100 shares of T. Rowe Price Group stock in a transaction on Tuesday, December 15th. The stock was sold at an average price of $149.64, for a total value of $1,212,084.00. Following the transaction, the vice president now directly owns 336,256 shares in the company, valued at approximately $50,317,347.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher D. Alderson sold 2,043 shares of the business’s stock in a transaction on Thursday, December 10th. The stock was sold at an average price of $149.07, for a total value of $304,550.01. Following the completion of the transaction, the vice president now directly owns 332,256 shares of the company’s stock, valued at $49,529,401.92. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Shares of TROW traded down $1.11 during trading hours on Wednesday, reaching $157.20. 1,149,959 shares of the company traded hands, compared to its average volume of 1,114,939. The stock’s fifty day moving average price is $150.10 and its 200 day moving average price is $138.31. The firm has a market cap of $35.60 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 1.64 and a beta of 1.15. T. Rowe Price Group, Inc. has a 12-month low of $82.51 and a 12-month high of $159.68.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, October 29th. The asset manager reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.02. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.57 billion. T. Rowe Price Group had a net margin of 35.05% and a return on equity of 29.65%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the business posted $2.13 EPS. On average, equities analysts expect that T. Rowe Price Group, Inc. will post 8.92 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 30th. Shareholders of record on Tuesday, December 15th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend was Monday, December 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is 44.61%.

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.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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