Avidian Wealth Enterprises LLC Boosts Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Avidian Wealth Enterprises LLC boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 68.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,059 shares of the asset manager’s stock after purchasing an additional 1,653 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in T. Rowe Price Group were worth $459,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TROW. Exchange Traded Concepts LLC purchased a new position in T. Rowe Price Group in the third quarter valued at $105,000. Creative Planning increased its holdings in T. Rowe Price Group by 0.3% in the third quarter. Creative Planning now owns 55,324 shares of the asset manager’s stock valued at $6,026,000 after buying an additional 177 shares during the last quarter. McKinley Carter Wealth Services Inc. increased its holdings in T. Rowe Price Group by 7.5% in the third quarter. McKinley Carter Wealth Services Inc. now owns 13,792 shares of the asset manager’s stock valued at $1,502,000 after buying an additional 966 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in T. Rowe Price Group by 16.1% in the third quarter. Vontobel Holding Ltd. now owns 11,214 shares of the asset manager’s stock valued at $1,222,000 after acquiring an additional 1,559 shares in the last quarter. Finally, Twelve Points Wealth Management LLC boosted its stake in T. Rowe Price Group by 10.0% in the third quarter. Twelve Points Wealth Management LLC now owns 5,452 shares of the asset manager’s stock valued at $594,000 after acquiring an additional 494 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were 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 owns 119,577 shares in the company, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The sale 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 stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the transaction, the vice president now directly owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $107.24 on Friday. T. Rowe Price Group, Inc. has a fifty-two week low of $100.49 and a fifty-two week high of $125.81. The company has a market capitalization of $23.82 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44. The firm has a 50-day simple moving average of $114.89 and a 200-day simple moving average of $112.44.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.91%. During the same quarter last year, the company posted $1.72 earnings per share. Equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.36 EPS for the current year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $1.27 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a yield of 4.74%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.15%.

Wall Street Analysts Forecast Growth

TROW has been the subject of several research analyst reports. Wells Fargo & Company decreased their price objective on shares of 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. Deutsche Bank Aktiengesellschaft upped their price objective on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Barclays decreased their price objective on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Morgan Stanley upped 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 note on Friday, December 20th. Finally, StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and a consensus target price of $115.09.

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.