324,020 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Purchased by L.K. Benson & Company P.C.

L.K. Benson & Company P.C. acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 324,020 shares of the asset manager’s stock, valued at approximately $36,643,000. T. Rowe Price Group makes up about 25.8% of L.K. Benson & Company P.C.’s portfolio, making the stock its largest position. L.K. Benson & Company P.C. owned approximately 0.15% of T. Rowe Price Group 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. Atria Investments Inc increased its position in T. Rowe Price Group by 7.0% during the 3rd quarter. Atria Investments Inc now owns 6,103 shares of the asset manager’s stock valued at $665,000 after buying an additional 400 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of T. Rowe Price Group by 6.8% during the third quarter. CIBC Asset Management Inc now owns 38,064 shares of the asset manager’s stock valued at $4,146,000 after acquiring an additional 2,423 shares in the last quarter. Quest Partners LLC raised its position in shares of T. Rowe Price Group by 442,900.0% in the 3rd quarter. Quest Partners LLC now owns 4,430 shares of the asset manager’s stock worth $483,000 after purchasing an additional 4,429 shares during the last quarter. LMR Partners LLP bought a new position in T. Rowe Price Group in the 3rd quarter worth about $249,000. Finally, Windle Wealth LLC grew its position in T. Rowe Price Group by 9.1% during the 3rd quarter. Windle Wealth LLC now owns 62,375 shares of the asset manager’s stock valued at $6,795,000 after purchasing an additional 5,216 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Down 0.8 %

TROW opened at $93.60 on Wednesday. The company’s 50 day moving average is $107.48 and its 200 day moving average is $111.48. The company has a market cap of $20.84 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 12-month low of $91.37 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate 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 prior year, the company earned $1.72 earnings per share. As a group, analysts predict 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 announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $1.27 per share. The ex-dividend date is Friday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a yield of 5.43%. T. Rowe Price Group’s payout ratio is 55.46%.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were 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 directly 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 document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on TROW. Barclays reduced their price target on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Wells Fargo & Company decreased their price target 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. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Morgan Stanley decreased their target price on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and an average target price of $114.09.

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.