PUREfi Wealth LLC Invests $257,000 in T. Rowe Price Group, Inc. (NASDAQ:TROW)

PUREfi Wealth LLC acquired a new position 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 (SEC). The fund acquired 2,273 shares of the asset manager’s stock, valued at approximately $257,000.

Other institutional investors have also made changes to their positions in the company. Nilsine Partners LLC lifted its position in shares of T. Rowe Price Group by 75.5% in the fourth quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock worth $623,000 after purchasing an additional 2,370 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of T. Rowe Price Group by 2.8% in the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock worth $30,062,000 after purchasing an additional 7,503 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of T. Rowe Price Group by 3.8% in the third quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock worth $3,267,000 after purchasing an additional 1,100 shares in the last quarter. Aigen Investment Management LP bought a new stake in shares of T. Rowe Price Group in the third quarter worth $516,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of T. Rowe Price Group by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after purchasing an additional 231,286 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TROW. TD Cowen cut their price objective on shares of 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. Evercore ISI upped their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Barclays dropped their price target on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. JPMorgan Chase & Co. dropped their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus target price of $115.09.

T. Rowe Price Group Price Performance

Shares of TROW opened at $107.17 on Friday. The firm has a market capitalization of $23.81 billion, a PE ratio of 11.70, a PEG ratio of 1.70 and a beta of 1.44. The company’s 50-day moving average is $114.54 and its 200-day moving average is $112.40. T. Rowe Price Group, Inc. has a fifty-two week low of $100.49 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share 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 20.91%. During the same quarter in the prior year, the business earned $1.72 earnings per share. Analysts predict that T. Rowe Price Group, Inc. will post 9.36 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $1.27 dividend. The ex-dividend date of this dividend is Friday, March 14th. 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 4.74%. T. Rowe Price Group’s dividend payout ratio is 54.15%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the sale, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. This represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Arif Husain sold 4,112 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the sale, the vice president now owns 36,800 shares in the company, valued at $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

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.