Strategic Investment Advisors MI Lowers Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Strategic Investment Advisors MI lowered its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,158 shares of the asset manager’s stock after selling 110 shares during the quarter. Strategic Investment Advisors MI’s holdings in T. Rowe Price Group were worth $1,375,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Toth Financial Advisory Corp grew its holdings in shares of T. Rowe Price Group by 14.7% during the fourth quarter. Toth Financial Advisory Corp now owns 57,190 shares of the asset manager’s stock worth $6,468,000 after buying an additional 7,328 shares during the last quarter. Grimes & Company Inc. lifted its position in T. Rowe Price Group by 2.6% in the fourth quarter. Grimes & Company Inc. now owns 191,099 shares of the asset manager’s stock valued at $21,611,000 after purchasing an additional 4,795 shares during the period. Lantz Financial LLC lifted its position in T. Rowe Price Group by 5.0% in the fourth quarter. Lantz Financial LLC now owns 16,332 shares of the asset manager’s stock valued at $1,847,000 after purchasing an additional 783 shares during the period. DGS Capital Management LLC lifted its position in T. Rowe Price Group by 36.0% in the fourth quarter. DGS Capital Management LLC now owns 3,174 shares of the asset manager’s stock valued at $359,000 after purchasing an additional 840 shares during the period. Finally, Goelzer Investment Management Inc. lifted its position in T. Rowe Price Group by 15.5% in the fourth quarter. Goelzer Investment Management Inc. now owns 64,503 shares of the asset manager’s stock valued at $7,295,000 after purchasing an additional 8,638 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Activity

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 119,577 shares of the company’s stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TROW. Morgan Stanley raised their price objective on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Barclays reduced their price objective on shares of T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. JPMorgan Chase & Co. reduced their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Wells Fargo & Company reduced their price target on shares of T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Finally, Evercore ISI lifted their price target 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. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $115.82.

T. Rowe Price Group Stock Performance

TROW stock opened at $114.21 on Monday. The stock has a market capitalization of $25.37 billion, a P/E ratio of 12.50, a PEG ratio of 1.68 and a beta of 1.43. T. Rowe Price Group, Inc. has a one year low of $100.49 and a one year high of $125.81. The company has a 50 day moving average price of $117.22 and a two-hundred day moving average price of $112.79.

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

T. Rowe Price Group Dividend Announcement

The company 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. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.34%. T. Rowe Price Group’s payout ratio is currently 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.