DRW Securities LLC Takes Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

by · The Markets Daily

DRW Securities LLC bought a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,340 shares of the asset manager’s stock, valued at approximately $265,000.

A number of other hedge funds also recently bought and sold shares of the company. Addison Advisors LLC grew its stake in shares of T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 93 shares during the period. Curio Wealth LLC bought a new stake in T. Rowe Price Group during the 4th quarter valued at approximately $27,000. Y.D. More Investments Ltd grew its stake in T. Rowe Price Group by 124.0% during the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 155 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of T. Rowe Price Group in the fourth quarter worth about $32,000. Finally, Advantage Trust Co raised its holdings in shares of T. Rowe Price Group by 48.8% during the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the sale, the director now owns 42,979 shares in the company, valued at $3,935,157.24. This trade represents a 8.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the sale, the vice president now owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

TROW has been the subject of several analyst reports. The Goldman Sachs Group lowered their price objective on T. Rowe Price Group from $103.00 to $89.00 and set a “sell” rating for the company in a research note on Thursday, April 3rd. Citigroup reduced their price objective on T. Rowe Price Group from $120.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 31st. Bank of America cut their price objective on shares of T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a report on Thursday, April 3rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Finally, TD Cowen decreased their price target on T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday. Five analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $104.75.

Get Our Latest Research Report on T. Rowe Price Group

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $85.94 on Friday. The company has a market capitalization of $19.10 billion, a P/E ratio of 9.38, a PEG ratio of 2.86 and a beta of 1.50. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The company’s fifty day moving average is $98.52 and its two-hundred day moving average is $109.29.

T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same period in the previous year, the business posted $1.72 earnings per share. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $1.27 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a yield of 5.91%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio is presently 55.46%.

T. Rowe Price Group Company Profile

(Free Report)

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.

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