Brooklyn Investment Group Acquires 98 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Brooklyn Investment Group boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 24.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 497 shares of the asset manager’s stock after acquiring an additional 98 shares during the quarter. Brooklyn Investment Group’s holdings in T. Rowe Price Group were worth $56,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TROW. Iron Horse Wealth Management LLC grew its stake in shares of T. Rowe Price Group by 90.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 110 shares during the period. Hexagon Capital Partners LLC grew its position in T. Rowe Price Group by 54.7% in the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 104 shares during the period. True Wealth Design LLC acquired a new position in T. Rowe Price Group during the third quarter worth $37,000. Larson Financial Group LLC lifted its holdings in shares of T. Rowe Price Group by 866.7% during the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 312 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in shares of T. Rowe Price Group during the third quarter valued at $47,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 1.0 %

Shares of NASDAQ:TROW opened at $113.21 on Monday. T. Rowe Price Group, Inc. has a 1-year low of $100.49 and a 1-year high of $125.81. The stock has a market capitalization of $25.15 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.42 and a beta of 1.43. The business has a 50-day moving average price of $117.71 and a two-hundred day moving average price of $112.84.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results 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. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the firm posted $2.17 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities analysts predict that T. Rowe Price Group, Inc. will post 9.46 EPS for the current year.

T. Rowe Price Group Dividend Announcement

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

Analyst Upgrades and Downgrades

TROW has been the subject of a number of recent analyst reports. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday. Keefe, Bruyette & Woods dropped their price objective on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a report on Monday, January 13th. Barclays reduced their target price on T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating on the stock in a report on Friday. Wells Fargo & Company decreased their price target on T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Finally, TD Cowen cut their price objective on 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. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $115.82.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now 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 Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is owned by insiders.

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.