T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Purchased by Steigerwald Gordon & Koch Inc.

Steigerwald Gordon & Koch Inc. grew its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.3% during the 4th quarter, HoldingsChannel reports. The firm owned 119,514 shares of the asset manager’s stock after buying an additional 1,512 shares during the period. Steigerwald Gordon & Koch Inc.’s holdings in T. Rowe Price Group were worth $13,516,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TROW. Astoria Portfolio Advisors LLC. purchased a new position in shares of T. Rowe Price Group in the fourth quarter worth about $247,000. HB Wealth Management LLC raised its holdings in T. Rowe Price Group by 12.4% in the 4th quarter. HB Wealth Management LLC now owns 2,691 shares of the asset manager’s stock valued at $304,000 after acquiring an additional 296 shares during the last quarter. Trust Co. of Vermont lifted its stake in T. Rowe Price Group by 4.4% in the 4th quarter. Trust Co. of Vermont now owns 12,468 shares of the asset manager’s stock worth $1,410,000 after purchasing an additional 521 shares in the last quarter. Brooklyn Investment Group boosted its holdings in shares of T. Rowe Price Group by 24.6% during the 4th quarter. Brooklyn Investment Group now owns 497 shares of the asset manager’s stock worth $56,000 after purchasing an additional 98 shares during the last quarter. Finally, Whitener Capital Management Inc. purchased a new stake in shares of T. Rowe Price Group in the fourth quarter valued at approximately $206,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insiders Place Their Bets

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 shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the sale, the vice president now owns 119,577 shares of the company’s stock, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Up 1.0 %

TROW opened at $113.21 on Friday. The stock’s 50-day moving average price is $117.71 and its 200 day moving average price is $112.85. T. Rowe Price Group, Inc. has a 12-month low of $100.49 and a 12-month high of $125.81. The firm has a market cap of $25.15 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.42 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.21. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.17 earnings per share. On average, research analysts forecast that T. Rowe Price Group, Inc. will post 9.46 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a $1.24 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.38%. T. Rowe Price Group’s dividend payout ratio is presently 54.27%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TROW shares. Wells Fargo & Company reduced their price objective on T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. TD Cowen reduced their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Monday, November 4th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday. Keefe, Bruyette & Woods reduced their target price on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th. Finally, The Goldman Sachs Group dropped their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research note on Thursday, October 3rd. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $115.82.

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.