Valeo Financial Advisors LLC Purchases New Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Valeo Financial Advisors LLC acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,587 shares of the asset manager’s stock, valued at approximately $279,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. OFI Invest Asset Management bought a new stake in shares of T. Rowe Price Group in the third quarter valued at about $25,000. Creative Financial Designs Inc. ADV raised its holdings in shares of T. Rowe Price Group by 83.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 106 shares in the last quarter. PCA Investment Advisory Services Inc. purchased a new stake in shares of T. Rowe Price Group in the 2nd quarter worth approximately $26,000. Park Place Capital Corp boosted its stake in shares of T. Rowe Price Group by 1,775.0% during the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 284 shares in the last quarter. Finally, Fortitude Family Office LLC purchased a new position in T. Rowe Price Group during the fourth quarter valued at approximately $33,000. 73.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on TROW shares. JPMorgan Chase & Co. increased their target price on T. Rowe Price Group from $90.00 to $94.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. UBS Group raised their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $106.00 to $120.00 in a report on Thursday, April 11th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, Citigroup boosted their price objective on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Four investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $109.56.

T. Rowe Price Group Trading Down 0.8 %

NASDAQ:TROW opened at $114.25 on Tuesday. The company has a market capitalization of $25.55 billion, a P/E ratio of 14.72, a PEG ratio of 2.22 and a beta of 1.40. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $132.76. The firm has a fifty day simple moving average of $114.58 and a 200-day simple moving average of $106.61.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.12. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.74 EPS. Equities analysts forecast that T. Rowe Price Group, Inc. will post 8.13 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.34%. The ex-dividend date was Thursday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s dividend payout ratio is 63.92%.

Insiders Place Their Bets

In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the sale, the director now owns 21,073 shares in the company, valued at $2,493,357.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the transaction, the director now owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the sale, the insider now directly owns 14,113 shares in the company, valued at $1,511,925.69. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

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.