Nicholson Wealth Management Group LLC Raises Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Nicholson Wealth Management Group LLC increased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 122.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 12,988 shares of the asset manager’s stock after purchasing an additional 7,162 shares during the period. Nicholson Wealth Management Group LLC’s holdings in T. Rowe Price Group were worth $1,469,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Mattern Capital Management LLC increased its position in T. Rowe Price Group by 2.5% during the 4th quarter. Mattern Capital Management LLC now owns 74,212 shares of the asset manager’s stock valued at $8,393,000 after purchasing an additional 1,837 shares during the period. Kentucky Retirement Systems Insurance Trust Fund increased its position in T. Rowe Price Group by 40.2% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,240 shares of the asset manager’s stock valued at $1,045,000 after purchasing an additional 2,649 shares during the period. Cardinal Capital Management increased its position in T. Rowe Price Group by 0.7% during the 4th quarter. Cardinal Capital Management now owns 61,417 shares of the asset manager’s stock valued at $6,946,000 after purchasing an additional 452 shares during the period. Kestra Investment Management LLC increased its position in T. Rowe Price Group by 71.3% during the 4th quarter. Kestra Investment Management LLC now owns 9,609 shares of the asset manager’s stock valued at $1,087,000 after purchasing an additional 3,999 shares during the period. Finally, Provident Trust Co. increased its position in T. Rowe Price Group by 8.9% during the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock valued at $295,311,000 after purchasing an additional 213,566 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the transaction, the vice president now owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the transaction, the vice president now directly owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Trading Up 0.1 %

Shares of TROW stock opened at $108.49 on Friday. The stock has a market cap of $24.15 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 2.85 and a beta of 1.44. The company’s fifty day moving average price is $113.06 and its 200-day moving average price is $112.27. T. Rowe Price Group, Inc. has a 12 month low of $100.49 and a 12 month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same quarter in the prior year, the firm posted $1.72 earnings per share. On average, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company 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. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a yield of 4.68%. T. Rowe Price Group’s payout ratio is presently 54.15%.

Wall Street Analysts Forecast Growth

TROW has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Barclays reduced their price objective 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. Morgan Stanley boosted their price objective on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. TD Cowen reduced 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. Finally, Wells Fargo & Company dropped their target price on shares of 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. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $115.09.

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.