Lafayette Investments Inc. Has $9.78 Million Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Lafayette Investments Inc. grew its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 90,853 shares of the asset manager’s stock after purchasing an additional 2,587 shares during the quarter. T. Rowe Price Group comprises 2.4% of Lafayette Investments Inc.’s portfolio, making the stock its 12th biggest holding. Lafayette Investments Inc.’s holdings in T. Rowe Price Group were worth $9,784,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TROW. OFI Invest Asset Management acquired a new stake in T. Rowe Price Group during the third quarter worth about $25,000. Creative Financial Designs Inc. ADV grew its position in T. Rowe Price Group by 83.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after buying an additional 106 shares in the last quarter. PCA Investment Advisory Services Inc. acquired a new stake in T. Rowe Price Group during the second quarter worth about $26,000. Park Place Capital Corp grew its position in T. Rowe Price Group by 1,775.0% during the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after buying an additional 284 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in T. Rowe Price Group during the fourth quarter worth about $33,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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. In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the transaction, the director now owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jessica M. Hiebler sold 1,138 shares of the business’s 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 transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TROW. Citigroup lifted their target price on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $106.00 to $120.00 in a research report on Thursday, April 11th. UBS Group raised their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Finally, TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and raised their price target for the stock from $92.00 to $114.00 in a research note on Monday, April 8th. Four investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $112.67.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW traded down $2.67 during trading on Thursday, reaching $108.72. The stock had a trading volume of 2,484,741 shares, compared to its average volume of 1,408,567. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $132.76. The business’s 50-day moving average price is $114.67 and its 200 day moving average price is $106.71. The stock has a market capitalization of $24.31 billion, a PE ratio of 14.01, a P/E/G ratio of 2.16 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.12. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the company posted $1.74 earnings per share. T. Rowe Price Group’s quarterly revenue was up 6.5% compared to the same quarter last year. Analysts forecast that T. Rowe Price Group, Inc. will post 8.13 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.56%. The ex-dividend date was Thursday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s payout ratio is 63.92%.

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.