T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by Cullen Investment Group LTD.

Cullen Investment Group LTD. increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,437 shares of the asset manager’s stock after buying an additional 111 shares during the quarter. Cullen Investment Group LTD.’s holdings in T. Rowe Price Group were worth $1,520,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Iron Horse Wealth Management LLC increased its stake in T. Rowe Price Group by 90.9% during the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after purchasing an additional 110 shares during the period. Hexagon Capital Partners LLC increased its position in T. Rowe Price Group by 54.7% during the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after buying an additional 104 shares during the period. True Wealth Design LLC purchased a new position in T. Rowe Price Group during the 3rd quarter worth $37,000. Larson Financial Group LLC lifted its position in T. Rowe Price Group by 866.7% during the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after acquiring an additional 312 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in shares of T. Rowe Price Group in the third quarter valued at about $43,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction 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 completion of the sale, the vice president now directly owns 119,577 shares of the company’s stock, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

TROW has been the subject of several recent analyst reports. Morgan Stanley raised their price objective on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Wells Fargo & Company upped their target price on T. Rowe Price Group from $112.00 to $124.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. reduced their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. The Goldman Sachs Group reduced their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a report on Thursday, October 3rd. Finally, StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $116.55.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $110.63 on Tuesday. The firm has a market capitalization of $24.58 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 1.73 and a beta of 1.43. The company has a 50-day simple moving average of $118.17 and a 200-day simple moving average of $112.88. T. Rowe Price Group, Inc. has a one year low of $100.49 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company earned $2.17 earnings per share. Equities analysts forecast that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend was Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.27%.

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.