Sound Financial Strategies Group LLC Acquires 1,018 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Sound Financial Strategies Group LLC grew its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 15.6% during the 4th quarter, HoldingsChannel reports. The firm owned 7,529 shares of the asset manager’s stock after purchasing an additional 1,018 shares during the quarter. Sound Financial Strategies Group LLC’s holdings in T. Rowe Price Group were worth $851,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TROW. Farther Finance Advisors LLC grew its position in T. Rowe Price Group by 31.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,764 shares of the asset manager’s stock worth $519,000 after acquiring an additional 1,128 shares during the last quarter. Chicago Partners Investment Group LLC bought a new stake in shares of T. Rowe Price Group in the 3rd quarter valued at about $226,000. Van ECK Associates Corp grew its position in shares of T. Rowe Price Group by 5.9% in the 3rd quarter. Van ECK Associates Corp now owns 91,496 shares of the asset manager’s stock valued at $10,022,000 after buying an additional 5,109 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of T. Rowe Price Group by 14.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 47,793 shares of the asset manager’s stock valued at $5,206,000 after buying an additional 5,980 shares during the last quarter. Finally, National Pension Service grew its position in shares of T. Rowe Price Group by 13.7% in the 3rd quarter. National Pension Service now owns 360,812 shares of the asset manager’s stock valued at $39,303,000 after buying an additional 43,396 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Activity

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the stock in a transaction 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 sale, the vice president now 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 sale, the vice president now owns 119,577 shares in the company, valued at approximately $14,749,822.95. This 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 corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on TROW shares. Barclays reduced their price target on 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. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Evercore ISI boosted their price objective 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. Finally, Morgan Stanley dropped their price target on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $114.09.

T. Rowe Price Group Stock Down 3.6 %

TROW stock opened at $100.10 on Wednesday. The firm has a market cap of $22.29 billion, a PE ratio of 10.93, a P/E/G ratio of 2.86 and a beta of 1.44. The business has a 50 day moving average of $111.17 and a 200-day moving average of $112.33. T. Rowe Price Group, Inc. has a 12-month low of $98.70 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (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 in the prior year, the business earned $1.72 earnings per share. On average, research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $1.27 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a dividend yield of 5.07%. T. Rowe Price Group’s dividend 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.