Wynn Capital LLC Invests $510,000 in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Wynn Capital LLC acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,732 shares of the asset manager’s stock, valued at approximately $510,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TROW. OFI Invest Asset Management bought a new position in shares of T. Rowe Price Group during the third quarter valued at about $25,000. Creative Financial Designs Inc. ADV lifted its stake in T. Rowe Price Group by 83.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 106 shares during the period. Park Place Capital Corp increased its holdings in T. Rowe Price Group by 1,775.0% in the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after acquiring an additional 284 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in T. Rowe Price Group during the 4th quarter valued at approximately $33,000. Finally, NBC Securities Inc. bought a new stake in T. Rowe Price Group in the third quarter worth $39,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction that occurred on 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 owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Jessica M. Hiebler sold 1,138 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction on 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 transaction, the director now owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

TROW has been the subject of several research reports. JPMorgan Chase & Co. boosted their price target on 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. UBS Group lifted their price target on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a report on Friday, April 12th. TD Cowen raised T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their target price for the company from $92.00 to $114.00 in a research report on Monday, April 8th. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their price objective for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. Finally, StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Four analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and a consensus price target of $112.67.

T. Rowe Price Group Price Performance

TROW stock traded down $0.88 during midday trading on Wednesday, hitting $111.06. 1,053,896 shares of the stock traded hands, compared to its average volume of 1,415,362. The stock’s fifty day simple moving average is $114.89 and its 200-day simple moving average is $106.95. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $132.76. The firm has a market cap of $24.84 billion, a P/E ratio of 14.43, a PEG ratio of 2.09 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, topping the consensus estimate of $1.60 by $0.12. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the business earned $1.74 EPS. The business’s revenue was up 6.5% on a year-over-year basis. On average, research analysts predict that T. Rowe Price Group, Inc. will post 8.36 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend 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 payout ratio is presently 63.92%.

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.