LPL Financial LLC Acquires 58,286 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

LPL Financial LLC increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 15.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 426,288 shares of the asset manager’s stock after acquiring an additional 58,286 shares during the period. LPL Financial LLC owned about 0.19% of T. Rowe Price Group worth $48,209,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of TROW. Charles Schwab Investment Management Inc. lifted its position in shares of T. Rowe Price Group by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock worth $812,798,000 after purchasing an additional 346,369 shares during the last quarter. Geode Capital Management LLC lifted its holdings in T. Rowe Price Group by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager’s stock valued at $598,801,000 after buying an additional 25,481 shares in the last quarter. Provident Trust Co. boosted its position in T. Rowe Price Group by 8.9% in the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock valued at $295,311,000 after buying an additional 213,566 shares during the period. Fisher Asset Management LLC boosted its position in T. Rowe Price Group by 0.5% in the 4th quarter. Fisher Asset Management LLC now owns 1,870,446 shares of the asset manager’s stock valued at $211,529,000 after buying an additional 8,992 shares during the period. Finally, Amundi grew its stake in T. Rowe Price Group by 30.1% in the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock worth $194,064,000 after acquiring an additional 397,278 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insiders Place Their Bets

In related news, VP Arif Husain sold 4,112 shares of the firm’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 completion of the transaction, the vice president now owns 36,800 shares in the company, valued at $4,021,136. This trade represents a 10.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

TROW has been the subject of several research analyst reports. Wells Fargo & Company decreased their price target on shares of 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. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Barclays cut 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 note on Thursday, February 6th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Finally, Morgan Stanley dropped their target price on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $114.09.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $94.70 on Friday. The stock’s fifty day moving average price is $105.04 and its 200 day moving average price is $110.90. T. Rowe Price Group, Inc. has a 1-year low of $91.37 and a 1-year high of $125.81. The company has a market cap of $21.08 billion, a price-to-earnings ratio of 10.34, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share 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 period in the previous year, the business posted $1.72 EPS. As a group, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current 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 paid a dividend of $1.27 per share. This is a positive change 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 5.36%. T. Rowe Price Group’s dividend payout ratio is presently 55.46%.

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.