Park Avenue Securities LLC Invests $474,000 in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Park Avenue Securities LLC bought a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 4,188 shares of the asset manager’s stock, valued at approximately $474,000.

A number of other hedge funds have also recently bought and sold shares of TROW. AE Wealth Management LLC acquired a new stake in T. Rowe Price Group during the second quarter worth about $305,000. Pacer Advisors Inc. lifted its position in shares of T. Rowe Price Group by 10.7% in the 2nd quarter. Pacer Advisors Inc. now owns 19,422 shares of the asset manager’s stock worth $2,240,000 after acquiring an additional 1,873 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of T. Rowe Price Group by 29.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 430 shares of the asset manager’s stock worth $49,000 after purchasing an additional 99 shares in the last quarter. Public Sector Pension Investment Board increased its position in shares of T. Rowe Price Group by 7.6% during the second quarter. Public Sector Pension Investment Board now owns 37,878 shares of the asset manager’s stock valued at $4,368,000 after purchasing an additional 2,670 shares during the period. Finally, Evergreen Capital Management LLC increased its position in shares of T. Rowe Price Group by 5.7% during the second quarter. Evergreen Capital Management LLC now owns 4,682 shares of the asset manager’s stock valued at $540,000 after purchasing an additional 254 shares during the period. 73.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TROW shares. The Goldman Sachs Group decreased their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. Morgan Stanley upped their target price on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Evercore ISI raised their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. lowered their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Finally, Keefe, Bruyette & Woods cut their target price on T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $115.82.

Insider Transactions at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group 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 completion of the sale, the vice president now directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Price Performance

TROW stock opened at $113.38 on Friday. The business has a fifty day moving average price of $117.44 and a 200 day moving average price of $112.80. T. Rowe Price Group, Inc. has a fifty-two week low of $100.49 and a fifty-two week high of $125.81. The stock has a market capitalization of $25.19 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 1.68 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company posted $2.17 earnings per share. On average, equities analysts expect that T. Rowe Price Group, Inc. will post 9.45 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders 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 4.37%. The ex-dividend date of this dividend was Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is presently 54.27%.

T. Rowe Price Group 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.