T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Bought by Kestra Investment Management LLC

Kestra Investment Management LLC grew its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 71.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,609 shares of the asset manager’s stock after buying an additional 3,999 shares during the quarter. Kestra Investment Management LLC’s holdings in T. Rowe Price Group were worth $1,087,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Provident Trust Co. lifted its holdings in shares of T. Rowe Price Group by 8.9% in the fourth 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 in the last quarter. Venturi Wealth Management LLC raised its position in shares of T. Rowe Price Group by 125.4% during the 4th quarter. Venturi Wealth Management LLC now owns 719 shares of the asset manager’s stock worth $81,000 after purchasing an additional 400 shares during the last quarter. Truist Financial Corp lifted its stake in T. Rowe Price Group by 5.6% in the 4th quarter. Truist Financial Corp now owns 70,095 shares of the asset manager’s stock valued at $7,927,000 after buying an additional 3,691 shares in the last quarter. CIBC Asset Management Inc grew its holdings in T. Rowe Price Group by 2.3% during the 4th quarter. CIBC Asset Management Inc now owns 38,940 shares of the asset manager’s stock valued at $4,404,000 after buying an additional 876 shares during the last quarter. Finally, Baillie Gifford & Co. increased its position in T. Rowe Price Group by 11.2% during the fourth quarter. Baillie Gifford & Co. now owns 431,485 shares of the asset manager’s stock worth $48,797,000 after buying an additional 43,291 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TROW shares. Barclays reduced their target price on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Evercore ISI raised 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 report on Thursday, November 7th. TD Cowen lowered their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company dropped their target price on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $115.09.

T. Rowe Price Group Stock Down 0.1 %

T. Rowe Price Group stock opened at $107.17 on Tuesday. The firm has a fifty day moving average of $114.21 and a 200-day moving average of $112.35. T. Rowe Price Group, Inc. has a 52-week low of $100.49 and a 52-week high of $125.81. The firm has a market capitalization of $23.81 billion, a P/E ratio of 11.70, a PEG ratio of 1.70 and a beta of 1.44.

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 20.91%. During the same period in the previous year, the business earned $1.72 earnings per share. On average, research analysts expect that T. Rowe Price Group, Inc. will post 9.36 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date is Friday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio is currently 54.15%.

Insider Transactions at T. Rowe Price Group

In other news, VP Arif Husain sold 4,112 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the transaction, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. This represents a 10.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction 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 sale, the vice president now 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. Corporate insiders own 2.00% of the company’s stock.

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.