Summit Trail Advisors LLC Grows Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Summit Trail Advisors LLC boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 23.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,969 shares of the asset manager’s stock after purchasing an additional 956 shares during the quarter. Summit Trail Advisors LLC’s holdings in T. Rowe Price Group were worth $562,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Iron Horse Wealth Management LLC boosted its stake in shares of T. Rowe Price Group by 90.9% in the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after acquiring an additional 110 shares during the period. Y.D. More Investments Ltd lifted its holdings in T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after purchasing an additional 155 shares in the last quarter. True Wealth Design LLC bought a new position in T. Rowe Price Group in the 3rd quarter worth approximately $37,000. Larson Financial Group LLC grew its holdings in T. Rowe Price Group by 866.7% during the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after buying an additional 312 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of T. Rowe Price Group during the third quarter valued at approximately $43,000. 73.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TROW. TD Cowen dropped their target price on shares of 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. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Morgan Stanley raised 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 report on Friday, December 20th. Deutsche Bank Aktiengesellschaft boosted their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company cut their price target on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $115.09.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the sale, the vice president now directly owns 119,577 shares of the company’s stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $109.03 on Wednesday. The stock has a market cap of $24.22 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44. The stock has a 50 day moving average price of $115.50 and a 200-day moving average price of $112.50. T. Rowe Price Group, Inc. has a one year low of $100.49 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.61%. During the same period in the prior year, the company earned $1.72 earnings per share. Sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.36 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 4.66%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.15%.

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.