T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by Alliance Wealth Advisors LLC UT

Alliance Wealth Advisors LLC UT lifted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,399 shares of the asset manager’s stock after acquiring an additional 336 shares during the quarter. Alliance Wealth Advisors LLC UT’s holdings in T. Rowe Price Group were worth $1,658,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TROW. International Assets Investment Management LLC increased its stake in shares of T. Rowe Price Group by 8,968.6% during the fourth quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager’s stock worth $97,152,000 after acquiring an additional 892,198 shares during the period. Qube Research & Technologies Ltd acquired a new position in T. Rowe Price Group during the third quarter worth about $21,114,000. Robeco Institutional Asset Management B.V. grew its position in T. Rowe Price Group by 282.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 201,435 shares of the asset manager’s stock worth $21,124,000 after buying an additional 148,787 shares during the period. Charles Schwab Investment Management Inc. grew its position in T. Rowe Price Group by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock worth $513,874,000 after buying an additional 134,839 shares during the period. Finally, Invesco Ltd. grew its position in T. Rowe Price Group by 7.6% during the third quarter. Invesco Ltd. now owns 1,684,057 shares of the asset manager’s stock worth $176,607,000 after buying an additional 119,305 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Price Performance

TROW traded up $5.19 during trading hours on Friday, reaching $114.02. 2,943,278 shares of the stock traded hands, compared to its average volume of 1,335,708. The firm’s fifty day simple moving average is $115.10 and its two-hundred day simple moving average is $107.07. The company has a market cap of $25.50 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 2.04 and a beta of 1.40. 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 released its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The business’s revenue was up 13.8% on a year-over-year basis. During the same period last year, the business earned $1.69 EPS. On average, research analysts predict that T. Rowe Price Group, Inc. will post 8.36 earnings per share 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. Shareholders of record on Friday, March 15th were issued a dividend of $1.24 per share. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.22. This represents a $4.96 annualized dividend and a yield of 4.35%. The ex-dividend date was Thursday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 63.92%.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s 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 transaction, the director now directly 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 SEC, which is available through this hyperlink. In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s 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 transaction, the director now directly 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 SEC, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was 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 owns 14,113 shares in the company, valued at $1,511,925.69. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on TROW shares. Morgan Stanley upped their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their target price for the stock from $92.00 to $114.00 in a research report on Monday, April 8th. UBS Group increased their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday, April 12th. Finally, JPMorgan Chase & Co. increased their price target on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. Four research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $112.67.

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.