Jones Financial Companies Lllp Acquires 3,098 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Jones Financial Companies Lllp raised its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 64.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,912 shares of the asset manager’s stock after acquiring an additional 3,098 shares during the quarter. Jones Financial Companies Lllp’s holdings in T. Rowe Price Group were worth $895,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Modera Wealth Management LLC acquired a new stake in T. Rowe Price Group in the fourth quarter worth $407,000. Asahi Life Asset Management CO. LTD. acquired a new stake in T. Rowe Price Group in the fourth quarter worth $342,000. Norden Group LLC acquired a new stake in T. Rowe Price Group in the fourth quarter worth $406,000. Kohmann Bosshard Financial Services LLC acquired a new stake in T. Rowe Price Group in the fourth quarter worth $119,000. Finally, Smartleaf Asset Management LLC raised its holdings in T. Rowe Price Group by 33.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,160 shares of the asset manager’s stock worth $132,000 after purchasing an additional 288 shares during the period. 73.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Morgan Stanley cut 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. Deutsche Bank Aktiengesellschaft increased their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Wells Fargo & Company cut their target price on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Keefe, Bruyette & Woods reaffirmed 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 report on Thursday, February 6th. Finally, StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and an average price target of $114.09.

Insiders Place Their Bets

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the transaction, 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 disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $100.66 on Friday. The company’s 50-day moving average price is $110.17 and its two-hundred day moving average price is $112.12. T. Rowe Price Group, Inc. has a one year low of $97.26 and a one year high of $125.81. The stock has a market capitalization of $22.41 billion, a PE ratio of 10.99, 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 EPS 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 firm earned $1.72 EPS. On average, analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders 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 a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a yield of 5.05%. T. Rowe Price Group’s payout ratio is 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.