Hopwood Financial Services Inc. Purchases Shares of 3,644 T. Rowe Price Group, Inc. (NASDAQ:TROW)

Hopwood Financial Services Inc. acquired a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,644 shares of the asset manager’s stock, valued at approximately $412,000.

Several other hedge funds also recently modified their holdings of the company. Addison Advisors LLC grew its position in shares of T. Rowe Price Group by 67.4% in the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 93 shares during the period. Y.D. More Investments Ltd raised its position in T. Rowe Price Group by 124.0% in the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 155 shares during the period. Stonebridge Financial Group LLC acquired a new position in T. Rowe Price Group during the 4th quarter worth approximately $32,000. Advantage Trust Co lifted its position in shares of T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after purchasing an additional 100 shares in the last quarter. Finally, True Wealth Design LLC acquired a new position in T. Rowe Price Group in the 3rd quarter worth $37,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Arif Husain sold 4,112 shares of the business’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 sale, the vice president now directly owns 36,800 shares in the company, valued at $4,021,136. The trade was a 10.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

TROW has been the subject of several research analyst reports. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Barclays lowered their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Morgan Stanley reduced their target price on 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. Wells Fargo & Company lowered 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 report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $114.09.

T. Rowe Price Group Trading Down 2.5 %

TROW opened at $96.30 on Wednesday. The business’s 50 day moving average is $109.53 and its 200-day moving average is $111.97. The stock has a market cap of $21.44 billion, a PE ratio of 10.51, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a twelve month low of $95.98 and a twelve month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its 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 net margin of 29.61% and a return on equity of 20.83%. During the same period last year, the firm earned $1.72 earnings per share. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $1.27 per share. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date of this dividend is Friday, March 14th. T. Rowe Price Group’s payout ratio is currently 55.46%.

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.