Wealthspire Advisors LLC Purchases 514 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Wealthspire Advisors LLC increased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,934 shares of the asset manager’s stock after buying an additional 514 shares during the quarter. Wealthspire Advisors LLC’s holdings in T. Rowe Price Group were worth $1,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new stake in shares of T. Rowe Price Group in the third quarter valued at about $25,000. Creative Financial Designs Inc. ADV raised its holdings in T. Rowe Price Group by 83.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after purchasing an additional 106 shares during the last quarter. Park Place Capital Corp lifted its holdings in T. Rowe Price Group by 1,775.0% in the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after buying an additional 284 shares during the period. Fortitude Family Office LLC bought a new stake in T. Rowe Price Group during the 4th quarter worth approximately $33,000. Finally, NBC Securities Inc. purchased a new stake in shares of T. Rowe Price Group in the third quarter worth approximately $39,000. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

NASDAQ TROW traded down $0.19 on Thursday, reaching $111.30. 1,729,639 shares of the company’s stock traded hands, compared to its average volume of 1,450,859. The stock has a market cap of $24.85 billion, a PE ratio of 13.22, a P/E/G ratio of 1.93 and a beta of 1.40. 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 50-day simple moving average of $115.22 and a 200 day simple moving average of $107.71.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, topping the consensus estimate of $2.04 by $0.34. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.69 earnings per share. As a group, analysts anticipate that T. Rowe Price Group, Inc. will post 8.75 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend is Friday, June 14th. T. Rowe Price Group’s payout ratio is currently 58.91%.

Wall Street Analyst Weigh In

TROW has been the subject of a number of analyst reports. UBS Group increased their price target on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday, April 12th. Morgan Stanley boosted their price target 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. Wells Fargo & Company boosted their target price on T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a research note on Friday, February 9th. Evercore ISI reduced their price target on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research report on Tuesday, April 30th. Finally, StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Four equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $112.10.

Insider Buying and Selling at T. Rowe Price Group

In other news, 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 transaction of $121,913.94. Following the completion of the transaction, the insider now directly owns 14,113 shares in the company, valued at $1,511,925.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the sale, the director now owns 21,073 shares in the company, valued at approximately $2,493,357.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares in the company, valued at $1,511,925.69. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,921 shares of company stock valued at $1,500,133. Corporate insiders own 2.00% of the company’s stock.

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.