Heritage Investors Management Corp Has $20.56 Million Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Heritage Investors Management Corp lessened its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 181,823 shares of the asset manager’s stock after selling 5,981 shares during the period. Heritage Investors Management Corp owned 0.08% of T. Rowe Price Group worth $20,562,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Private Advisor Group LLC grew its stake in T. Rowe Price Group by 10.4% in the third quarter. Private Advisor Group LLC now owns 12,060 shares of the asset manager’s stock valued at $1,314,000 after acquiring an additional 1,134 shares during the period. Pallas Capital Advisors LLC lifted its holdings in shares of T. Rowe Price Group by 10.6% in the 3rd quarter. Pallas Capital Advisors LLC now owns 3,964 shares of the asset manager’s stock worth $444,000 after purchasing an additional 380 shares in the last quarter. abrdn plc grew its position in T. Rowe Price Group by 4.2% in the 3rd quarter. abrdn plc now owns 114,587 shares of the asset manager’s stock valued at $12,412,000 after purchasing an additional 4,569 shares during the period. Mutual Advisors LLC increased its stake in T. Rowe Price Group by 7.0% during the 3rd quarter. Mutual Advisors LLC now owns 40,766 shares of the asset manager’s stock valued at $4,566,000 after purchasing an additional 2,674 shares in the last quarter. Finally, Trajan Wealth LLC raised its holdings in T. Rowe Price Group by 14.1% during the third quarter. Trajan Wealth LLC now owns 13,461 shares of the asset manager’s stock worth $1,466,000 after buying an additional 1,667 shares during the last quarter. 73.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TROW shares. TD Cowen reduced their price objective on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. Evercore ISI lifted their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Barclays lowered their price objective 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. Deutsche Bank Aktiengesellschaft increased their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. cut their target price on 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. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus price target of $114.09.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $104.74 on Thursday. The firm has a market cap of $23.32 billion, a PE ratio of 11.43, a P/E/G ratio of 2.86 and a beta of 1.44. T. Rowe Price Group, Inc. has a 1 year low of $100.49 and a 1 year high of $125.81. The stock has a fifty day moving average price of $112.14 and a 200-day moving average price of $112.38.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data 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 previous year, the company posted $1.72 EPS. As a group, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 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. Investors 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 dividend yield of 4.85%. 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 payout ratio is 55.46%.

Insider Activity at T. Rowe Price Group

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

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.