City Holding Co. Increases Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

City Holding Co. increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,622 shares of the asset manager’s stock after acquiring an additional 127 shares during the period. City Holding Co.’s holdings in T. Rowe Price Group were worth $410,000 at the end of the most recent quarter.

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

Insider Activity

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the transaction, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Up 1.0 %

T. Rowe Price Group stock opened at $113.21 on Tuesday. 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 50-day moving average price of $117.71 and a 200 day moving average price of $112.82. The company has a market capitalization of $25.15 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 1.42 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.17 earnings per share. Research analysts anticipate that T. Rowe Price Group, Inc. will post 9.46 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a dividend of $1.24 per share. The ex-dividend date was Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.38%. T. Rowe Price Group’s payout ratio is currently 54.27%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TROW. The Goldman Sachs Group lowered their target price on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a report on Thursday, October 3rd. TD Cowen decreased their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Barclays cut their price objective on shares of T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating on the stock in a research report on Friday. Evercore ISI lifted their price target on shares of 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. Finally, Wells Fargo & Company lowered their price objective on T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $115.82.

About T. Rowe Price Group

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.