TAP Consulting LLC Has $1.81 Million Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

TAP Consulting LLC lessened its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 10.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,775 shares of the asset manager’s stock after selling 2,032 shares during the period. TAP Consulting LLC’s holdings in T. Rowe Price Group were worth $1,806,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Stevens Capital Management LP bought a new position in shares of T. Rowe Price Group during the fourth quarter worth about $337,000. GHE LLC raised its position in shares of T. Rowe Price Group by 1.2% in the 4th quarter. GHE LLC now owns 18,907 shares of the asset manager’s stock worth $2,036,000 after acquiring an additional 232 shares in the last quarter. Atria Wealth Solutions Inc. lifted its stake in shares of T. Rowe Price Group by 89.6% in the 4th quarter. Atria Wealth Solutions Inc. now owns 8,714 shares of the asset manager’s stock valued at $939,000 after purchasing an additional 4,119 shares during the period. Wynn Capital LLC acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at about $510,000. Finally, F M Investments LLC grew its stake in T. Rowe Price Group by 22.2% during the fourth quarter. F M Investments LLC now owns 3,146 shares of the asset manager’s stock worth $339,000 after purchasing an additional 571 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TROW shares. Wells Fargo & Company increased their price target on T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a report on Friday, February 9th. JPMorgan Chase & Co. upped their price target on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $106.00 to $120.00 in a report on Thursday, April 11th. TD Cowen raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and lifted their price target for the company from $92.00 to $114.00 in a research report on Monday, April 8th. Finally, Morgan Stanley upped their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 17th. Four analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $112.67.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW traded down $2.23 during midday trading on Thursday, reaching $108.83. The company’s stock had a trading volume of 2,161,391 shares, compared to its average volume of 1,424,685. The firm has a 50 day moving average price of $115.00 and a 200-day moving average price of $107.00. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $132.76. The stock has a market capitalization of $24.34 billion, a P/E ratio of 14.02, a PEG ratio of 2.10 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.12. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.74 EPS. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 8.36 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $1.24 per share. The ex-dividend date was Thursday, March 14th. This represents a $4.96 annualized dividend and a dividend yield of 4.56%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 63.92%.

Insider Buying and Selling

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the sale, the director now directly owns 21,073 shares in the company, valued at approximately $2,493,357.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Company 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.