Kestra Private Wealth Services LLC raised its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) by 10.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,674 shares of the asset manager’s stock after purchasing an additional 441 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in T. Rowe Price Group were worth $490,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. purchased a new position in shares of T. Rowe Price Group during the second quarter valued at approximately $97,000. Union Savings Bank purchased a new position in T. Rowe Price Group during the second quarter valued at $25,000. PCA Investment Advisory Services Inc. purchased a new position in T. Rowe Price Group during the second quarter valued at $26,000. OFI Invest Asset Management purchased a new position in T. Rowe Price Group during the third quarter valued at $25,000. Finally, Intrepid Capital Management Inc. purchased a new position in T. Rowe Price Group during the second quarter valued at $34,000. Hedge funds and other institutional investors own 75.85% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on TROW shares. Morgan Stanley raised their target price on shares of T. Rowe Price Group from $101.00 to $106.00 and gave the company an “equal weight” rating in a report on Friday, January 19th. Deutsche Bank Aktiengesellschaft cut their target price on shares of T. Rowe Price Group from $113.00 to $110.00 and set a “hold” rating for the company in a report on Wednesday, October 11th. TD Cowen began coverage on T. Rowe Price Group in a report on Thursday, January 4th. They issued an “underperform” rating and a $88.00 target price for the company. StockNews.com upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating in a report on Thursday, February 1st. Finally, Citigroup upgraded T. Rowe Price Group from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $100.00 to $95.00 in a report on Tuesday, October 31st. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $97.33.
Insider Buying and Selling
In other T. Rowe Price Group news, VP Robert C.T. Higginbotham sold 40,000 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $96.52, for a total value of $3,860,800.00. Following the completion of the sale, the vice president now directly owns 30,855 shares in the company, valued at $2,978,124.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider William J. Stromberg sold 10,000 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $98.48, for a total transaction of $984,800.00. Following the completion of the transaction, the insider now directly owns 49,000 shares of the company’s stock, valued at approximately $4,825,520. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Robert C.T. Higginbotham sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $96.52, for a total value of $3,860,800.00. Following the completion of the sale, the vice president now owns 30,855 shares of the company’s stock, valued at $2,978,124.60. The disclosure for this sale can be found here. Insiders sold a total of 73,320 shares of company stock worth $7,237,878 in the last 90 days. 2.10% of the stock is owned by corporate insiders.
T. Rowe Price Group Price Performance
NASDAQ:TROW opened at $109.73 on Thursday. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $132.76. The company has a 50-day moving average of $106.78 and a 200 day moving average of $105.66. The firm has a market cap of $24.49 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 2.47 and a beta of 1.40.
T. Rowe Price Group Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Friday, March 15th will be paid a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.52%. The ex-dividend date is Thursday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s payout ratio is 69.52%.
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.
- Five stocks we like better than T. Rowe Price Group
- 3 Natural Gas Stocks That Offer Great Dividend Yields
- Can Etsy stock craft rebound with support from big investor?
- What Are Utility Stocks? An Overview of the Utilities Sector
- 3 education stocks breaking out on a hiring spree
- 3 Warren Buffett Stocks to Buy Now
- e.l.f. Beauty on a shelf; a good time to buy
Receive News & Ratings for T. Rowe Price Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group and related companies with MarketBeat.com's FREE daily email newsletter.