3,133 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Purchased by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. purchased a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,133 shares of the asset manager’s stock, valued at approximately $337,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TROW. AE Wealth Management LLC lifted its stake in T. Rowe Price Group by 19.2% during the third quarter. AE Wealth Management LLC now owns 11,878 shares of the asset manager’s stock worth $1,246,000 after purchasing an additional 1,914 shares during the period. Greenwood Capital Associates LLC bought a new position in T. Rowe Price Group during the third quarter worth about $871,000. Occidental Asset Management LLC lifted its stake in T. Rowe Price Group by 4.5% during the third quarter. Occidental Asset Management LLC now owns 18,492 shares of the asset manager’s stock worth $1,939,000 after purchasing an additional 800 shares during the period. Czech National Bank lifted its stake in T. Rowe Price Group by 47.5% during the third quarter. Czech National Bank now owns 39,202 shares of the asset manager’s stock worth $4,111,000 after purchasing an additional 12,618 shares during the period. Finally, L. Roy Papp & Associates LLP lifted its stake in T. Rowe Price Group by 3.3% during the third quarter. L. Roy Papp & Associates LLP now owns 150,102 shares of the asset manager’s stock worth $15,741,000 after purchasing an additional 4,772 shares during the period. Institutional investors own 73.39% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

TROW has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price target on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. UBS Group lifted their target price on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Morgan Stanley lifted their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and lifted their target price for the company from $92.00 to $114.00 in a research note on Monday, April 8th. Finally, Citigroup lifted their target price on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Four investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $112.67.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $111.06 on Thursday. The firm has a market cap of $24.84 billion, a P/E ratio of 14.31, a P/E/G ratio of 2.10 and a beta of 1.40. The firm has a 50 day simple moving average of $114.98 and a 200 day simple moving average of $106.98. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.12. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. T. Rowe Price Group’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.74 earnings per share. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 8.36 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $1.24 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.47%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 63.92%.

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.