Thurston Springer Miller Herd & Titak Inc. Boosts Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 35.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,456 shares of the asset manager’s stock after buying an additional 3,014 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in T. Rowe Price Group were worth $1,295,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Iron Horse Wealth Management LLC boosted its holdings in shares of T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after buying an additional 110 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in T. Rowe Price Group by 54.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 104 shares during the period. True Wealth Design LLC bought a new stake in T. Rowe Price Group during the third quarter worth about $37,000. Larson Financial Group LLC grew its holdings in T. Rowe Price Group by 866.7% in the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after purchasing an additional 312 shares during the period. Finally, Brooklyn Investment Group bought a new position in shares of T. Rowe Price Group during the third quarter valued at approximately $43,000. 73.39% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was 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 owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of TROW opened at $112.11 on Wednesday. The firm has a market capitalization of $24.91 billion, a P/E ratio of 12.27, a PEG ratio of 1.73 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 business has a fifty day moving average of $118.12 and a 200 day moving average of $112.86.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the company posted $2.17 EPS. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Analysts expect that T. Rowe Price Group, Inc. will post 9.39 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a dividend of $1.24 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.42%. T. Rowe Price Group’s dividend payout ratio is currently 54.27%.

Analyst Ratings Changes

A number of research firms have recently commented on TROW. JPMorgan Chase & Co. cut their target price 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. Keefe, Bruyette & Woods cut their price objective on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating on the stock in a research report on Monday. TD Cowen decreased their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Finally, 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. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $116.00.

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.