T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by State of Wyoming

State of Wyoming grew its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 25.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,374 shares of the asset manager’s stock after purchasing an additional 689 shares during the period. State of Wyoming’s holdings in T. Rowe Price Group were worth $382,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Addison Advisors LLC lifted its stake in shares of T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 93 shares during the last quarter. Curio Wealth LLC acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at $27,000. Y.D. More Investments Ltd lifted its stake in shares of 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 valued at $32,000 after purchasing an additional 155 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at $32,000. Finally, Advantage Trust Co lifted its stake in shares of T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Trading Down 0.9%

TROW opened at $97.09 on Wednesday. The firm has a market cap of $21.39 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 2.86 and a beta of 1.50. The stock’s 50-day moving average price is $90.65 and its 200 day moving average price is $105.57. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.10. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $2.38 earnings per share. On average, research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a $1.27 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.08 annualized dividend and a yield of 5.23%. T. Rowe Price Group’s dividend payout ratio (DPR) is 57.60%.

Insider Activity at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 968 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the sale, the insider now owns 13,611 shares of the company’s stock, valued at $1,319,994.78. This trade represents a 6.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert F. Maclellan sold 3,955 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the sale, the director now directly owns 42,979 shares in the company, valued at approximately $3,935,157.24. This trade represents a 8.43% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on TROW shares. Bank of America decreased their price target on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a research note on Thursday, April 3rd. Cowen reissued a “hold” rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. Wells Fargo & Company decreased their target price on T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. TD Cowen decreased their target price on T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $113.00 target price (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Four analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus target price of $94.09.

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.