Astoria Portfolio Advisors LLC. Makes New $247,000 Investment in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Astoria Portfolio Advisors LLC. purchased a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 4th quarter, Holdings Channel reports. The firm purchased 2,204 shares of the asset manager’s stock, valued at approximately $247,000.

Other large investors have also modified their holdings of the company. Insight Folios Inc increased its position in T. Rowe Price Group by 3.6% during the third quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock worth $285,000 after purchasing an additional 90 shares during the last quarter. Keystone Financial Services increased its holdings in shares of T. Rowe Price Group by 5.1% during the 3rd quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock worth $205,000 after buying an additional 92 shares during the last quarter. Nvwm LLC raised its position in shares of T. Rowe Price Group by 2.2% in the 3rd quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock worth $490,000 after buying an additional 95 shares during the period. Strategy Asset Managers LLC boosted its holdings in T. Rowe Price Group by 4.6% in the third quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock valued at $236,000 after acquiring an additional 95 shares during the last quarter. Finally, Brooklyn Investment Group grew its position in T. Rowe Price Group by 24.6% during the fourth quarter. Brooklyn Investment Group now owns 497 shares of the asset manager’s stock valued at $56,000 after acquiring an additional 98 shares during the period. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TROW shares. Wells Fargo & Company reduced their price objective on T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Barclays dropped their price objective on shares of T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating for the company in a research report on Friday. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday. Evercore ISI increased their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, TD Cowen cut their price objective on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, T. Rowe Price Group has an average rating of “Hold” and a consensus target price of $115.82.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now owns 119,577 shares of the company’s stock, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $113.21 on Friday. T. Rowe Price Group, Inc. has a 1-year low of $100.49 and a 1-year high of $125.81. The business has a 50-day moving average of $117.71 and a 200-day moving average of $112.85. The company has a market capitalization of $25.15 billion, a PE ratio of 12.39, a P/E/G ratio of 1.42 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.21. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. T. Rowe Price Group’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.17 EPS. On average, equities analysts expect that T. Rowe Price Group, Inc. will post 9.46 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a dividend of $1.24 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.38%. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.27%.

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.