Thurston Springer Miller Herd & Titak Inc. Acquires 3,014 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 35.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,456 shares of the asset manager’s stock after purchasing an additional 3,014 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in T. Rowe Price Group were worth $1,295,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TROW. International Assets Investment Management LLC increased its holdings in T. Rowe Price Group by 7,992.0% during the third quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock worth $116,300,000 after buying an additional 1,054,461 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of T. Rowe Price Group by 382.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock valued at $43,373,000 after acquiring an additional 315,581 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of T. Rowe Price Group by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after purchasing an additional 231,286 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of T. Rowe Price Group by 15.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock worth $185,810,000 after purchasing an additional 220,105 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of T. Rowe Price Group by 77.2% in the 2nd quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock worth $52,032,000 after purchasing an additional 196,565 shares during the period. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Trading Up 1.3 %

TROW stock opened at $112.11 on Wednesday. The firm has a 50 day moving average of $118.12 and a 200-day moving average of $112.86. The firm has a market capitalization of $24.91 billion, a P/E ratio of 12.27, a price-to-earnings-growth ratio of 1.73 and a beta of 1.43. T. Rowe Price Group, Inc. has a 12 month low of $100.49 and a 12 month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its 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. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. During the same period in the prior year, the company earned $2.17 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. Sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.39 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a dividend of $1.24 per share. The ex-dividend date was Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.42%. T. Rowe Price Group’s payout ratio is 54.27%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. TD Cowen decreased their target price 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. Evercore ISI increased their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Morgan Stanley boosted their price objective on T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Wells Fargo & Company dropped their price objective on shares of T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $116.00.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares in the company, 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 is available through the SEC website. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Company 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.