Toth Financial Advisory Corp Acquires 7,328 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Toth Financial Advisory Corp lifted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 14.7% during the fourth quarter, Holdings Channel reports. The fund owned 57,190 shares of the asset manager’s stock after buying an additional 7,328 shares during the quarter. Toth Financial Advisory Corp’s holdings in T. Rowe Price Group were worth $6,468,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Insight Folios Inc boosted its stake in T. Rowe Price Group by 3.6% during the third quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock valued at $285,000 after buying an additional 90 shares during the period. Keystone Financial Services increased its position in shares of T. Rowe Price Group by 5.1% in the third quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock worth $205,000 after purchasing an additional 92 shares during the last quarter. MCF Advisors LLC raised its stake in T. Rowe Price Group by 1.5% in the fourth quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock valued at $704,000 after purchasing an additional 93 shares in the last quarter. Nvwm LLC lifted its position in T. Rowe Price Group by 2.2% during the third quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock valued at $490,000 after purchasing an additional 95 shares during the last quarter. Finally, Strategy Asset Managers LLC grew its stake in T. Rowe Price Group by 4.6% in the 3rd quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock worth $236,000 after buying an additional 95 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Stock Up 0.7 %

Shares of NASDAQ TROW opened at $114.21 on Friday. The company has a market cap of $25.37 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.68 and a beta of 1.43. The firm’s fifty day moving average is $117.22 and its 200 day moving average is $112.80. T. Rowe Price Group, Inc. has a 52 week low of $100.49 and a 52 week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the company earned $2.17 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.45 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend was Friday, December 13th. T. Rowe Price Group’s payout ratio is presently 54.27%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TROW shares. Evercore ISI raised their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Morgan Stanley lifted their price target on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. Barclays reduced their price objective on T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. JPMorgan Chase & Co. cut their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Finally, TD Cowen lowered 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. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, T. Rowe Price Group has an average rating of “Hold” and a consensus target price of $115.82.

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.