Bogart Wealth LLC Purchases 176 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Bogart Wealth LLC grew its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 42,594 shares of the asset manager’s stock after buying an additional 176 shares during the period. Bogart Wealth LLC’s holdings in T. Rowe Price Group were worth $4,587,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC raised its stake in T. Rowe Price Group by 8,968.6% during the fourth quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager’s stock worth $97,152,000 after acquiring an additional 892,198 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in T. Rowe Price Group during the 3rd quarter valued at about $21,114,000. Charles Schwab Investment Management Inc. boosted its position in T. Rowe Price Group by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock valued at $513,874,000 after buying an additional 134,839 shares in the last quarter. Invesco Ltd. grew its stake in T. Rowe Price Group by 7.6% during the third quarter. Invesco Ltd. now owns 1,684,057 shares of the asset manager’s stock worth $176,607,000 after buying an additional 119,305 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of T. Rowe Price Group by 6.7% during the fourth quarter. Fisher Asset Management LLC now owns 1,752,005 shares of the asset manager’s stock worth $188,674,000 after buying an additional 109,653 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insiders Place Their Bets

In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 21,073 shares in the company, valued at $2,493,357.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction on Friday, February 9th. The shares were 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 approximately $1,511,925.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the transaction, the director now owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The disclosure for this sale can be found here. Insiders sold 12,921 shares of company stock worth $1,500,133 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Stock Performance

TROW traded up $0.24 during midday trading on Wednesday, reaching $111.49. 1,167,363 shares of the company were exchanged, compared to its average volume of 1,447,603. The stock has a market capitalization of $24.90 billion, a P/E ratio of 13.24, a PEG ratio of 1.93 and a beta of 1.40. The stock’s 50-day simple moving average is $115.24 and its 200 day simple moving average is $107.68. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.69 earnings per share. On average, research analysts anticipate that T. Rowe Price Group, Inc. will post 8.75 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.45%. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

Analysts Set New Price Targets

TROW has been the topic of a number of research analyst reports. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. upped their price target on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $106.00 to $120.00 in a research report on Thursday, April 11th. UBS Group upped their target price on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research report on Friday, April 12th. Finally, Wells Fargo & Company raised their price target on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, February 9th. Four investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group has a consensus rating of “Hold” and an average price target of $112.10.

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.