Horizon Advisory Services Inc. Takes $308,000 Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Horizon Advisory Services Inc. bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,725 shares of the asset manager’s stock, valued at approximately $308,000. T. Rowe Price Group makes up about 0.2% of Horizon Advisory Services Inc.’s portfolio, making the stock its 28th largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Addison Advisors LLC boosted its holdings in shares of T. Rowe Price Group by 67.4% in the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 93 shares in the last quarter. Rothschild Investment LLC boosted its holdings in shares of T. Rowe Price Group by 1.9% in the fourth quarter. Rothschild Investment LLC now owns 9,828 shares of the asset manager’s stock valued at $1,111,000 after acquiring an additional 187 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of T. Rowe Price Group by 3.2% in the fourth quarter. IFP Advisors Inc now owns 3,792 shares of the asset manager’s stock valued at $429,000 after acquiring an additional 119 shares in the last quarter. South Dakota Investment Council purchased a new stake in T. Rowe Price Group during the fourth quarter worth about $158,000. Finally, Wealthspire Advisors LLC boosted its holdings in T. Rowe Price Group by 2.8% during the fourth quarter. Wealthspire Advisors LLC now owns 12,505 shares of the asset manager’s stock worth $1,414,000 after buying an additional 344 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Activity

In other news, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the transaction, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Up 0.3 %

TROW opened at $106.57 on Tuesday. T. Rowe Price Group, Inc. has a 52-week low of $100.49 and a 52-week high of $125.81. The company has a 50 day moving average of $112.54 and a two-hundred day moving average of $112.43. The company has a market cap of $23.73 billion, a P/E ratio of 11.63, a P/E/G ratio of 2.86 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same quarter in the previous year, the company earned $1.72 earnings per share. Research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $1.27 dividend. The ex-dividend date is Friday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a dividend yield of 4.77%. T. Rowe Price Group’s dividend payout ratio is 55.46%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TROW shares. TD Cowen decreased their price objective on shares of 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. Evercore ISI boosted their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Morgan Stanley decreased their price objective on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a report on Monday. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $114.09.

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.