Maridea Wealth Management LLC Buys Shares of 3,324 T. Rowe Price Group, Inc. (NASDAQ:TROW)

Maridea Wealth Management LLC purchased a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,324 shares of the asset manager’s stock, valued at approximately $376,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TROW. Addison Advisors LLC lifted its stake in T. Rowe Price Group by 67.4% in the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after buying an additional 93 shares during the period. Curio Wealth LLC acquired a new stake in shares of T. Rowe Price Group in the 4th quarter valued at approximately $27,000. Y.D. More Investments Ltd raised its position 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 acquiring an additional 155 shares during the period. Stonebridge Financial Group LLC bought a new position in T. Rowe Price Group during the 4th quarter worth approximately $32,000. Finally, Advantage Trust Co grew its holdings in T. Rowe Price Group by 48.8% during the fourth 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 period. 73.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TROW shares. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Morgan Stanley lowered their price target on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Wells Fargo & Company cut their price objective on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Barclays lowered their target price on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Finally, StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus price target of $114.09.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the sale, the vice president now directly owns 36,800 shares in the company, valued at $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Down 3.3 %

T. Rowe Price Group stock opened at $91.57 on Friday. The company has a fifty day simple moving average of $104.61 and a 200 day simple moving average of $110.87. T. Rowe Price Group, Inc. has a 1-year low of $91.10 and a 1-year high of $125.81. The company has a market cap of $20.35 billion, a P/E ratio of 10.00, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same period last year, the company posted $1.72 earnings per share. On average, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $1.27 dividend. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a dividend yield of 5.55%. The ex-dividend date was Friday, March 14th. T. Rowe Price Group’s payout ratio is currently 55.46%.

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.