Fenimore Asset Management Inc Decreases Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Fenimore Asset Management Inc decreased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 43.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 44,967 shares of the asset manager’s stock after selling 34,767 shares during the quarter. Fenimore Asset Management Inc’s holdings in T. Rowe Price Group were worth $5,085,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of TROW. Iron Horse Wealth Management LLC boosted its position in shares of T. Rowe Price Group by 90.9% during the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after buying an additional 110 shares during the period. Hexagon Capital Partners LLC increased its holdings in shares of T. Rowe Price Group by 54.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 104 shares during the period. True Wealth Design LLC bought a new position in T. Rowe Price Group in the third quarter worth about $37,000. Larson Financial Group LLC lifted its position in T. Rowe Price Group by 866.7% during the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 312 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of T. Rowe Price Group in the 3rd quarter worth $43,000. Institutional investors own 73.39% of the company’s stock.

Insider Activity

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 completion of the transaction, the vice president now owns 119,577 shares of the company’s stock, valued at $14,749,822.95. This represents a 3.27 % 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. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Up 0.7 %

NASDAQ TROW opened at $114.21 on Friday. T. Rowe Price Group, Inc. has a twelve month low of $100.49 and a twelve month high of $125.81. The stock has a 50-day moving average of $117.22 and a 200 day moving average of $112.80. The stock has a market capitalization of $25.37 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.68 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the company posted $2.17 EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. Equities analysts predict that T. Rowe Price Group, Inc. will post 9.45 EPS 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 issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend was Friday, December 13th. T. Rowe Price Group’s payout ratio is 54.27%.

Analyst Ratings Changes

A number of research firms recently commented on TROW. Evercore ISI lifted their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. TD Cowen lowered their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Keefe, Bruyette & Woods cut their price target on T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating on the stock in a research report on Monday, January 13th. StockNews.com raised T. Rowe Price Group from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Morgan Stanley raised their target price on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $115.82.

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.