Donoghue Forlines LLC Has $1.45 Million Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Donoghue Forlines LLC increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 9.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 12,806 shares of the asset manager’s stock after buying an additional 1,122 shares during the period. Donoghue Forlines LLC’s holdings in T. Rowe Price Group were worth $1,448,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in shares of T. Rowe Price Group by 2.8% during the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock worth $30,062,000 after purchasing an additional 7,503 shares in the last quarter. Janus Henderson Group PLC raised its position in T. Rowe Price Group by 3.8% in the 3rd quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock worth $3,267,000 after purchasing an additional 1,100 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in T. Rowe Price Group during the 2nd quarter worth $15,907,000. Aigen Investment Management LP bought a new position in T. Rowe Price Group in the 3rd quarter valued at $516,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of T. Rowe Price Group by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock valued at $745,169,000 after buying an additional 231,286 shares during the period. Institutional investors own 73.39% of the company’s stock.

Insiders Place Their Bets

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $113.10 on Thursday. The company has a market cap of $25.13 billion, a P/E ratio of 12.35, a P/E/G ratio of 1.68 and a beta of 1.43. T. Rowe Price Group, Inc. has a one year low of $100.49 and a one year high of $125.81. The firm’s fifty day moving average price is $117.44 and its two-hundred day moving average price is $112.80.

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. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the company earned $2.17 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.45 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date of this dividend was Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is currently 54.27%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TROW. TD Cowen cut their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Keefe, Bruyette & Woods lowered their price objective on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. The Goldman Sachs Group cut their price target on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a report on Thursday, October 3rd. Morgan Stanley increased their price objective on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Finally, StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $115.82.

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.