T. Rowe Price Group, Inc. (NASDAQ:TROW) Stake Reduced by Archford Capital Strategies LLC

Archford Capital Strategies LLC reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,566 shares of the asset manager’s stock after selling 200 shares during the quarter. Archford Capital Strategies LLC’s holdings in T. Rowe Price Group were worth $290,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC boosted its position in 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 worth $25,000 after acquiring an additional 110 shares during the period. Hexagon Capital Partners LLC boosted 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 worth $32,000 after acquiring an additional 104 shares during the period. True Wealth Design LLC acquired a new position in T. Rowe Price Group during the 3rd quarter worth $37,000. Larson Financial Group LLC boosted its position in T. Rowe Price Group by 866.7% during the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after acquiring an additional 312 shares during the period. Finally, Brooklyn Investment Group acquired a new position in T. Rowe Price Group during the 3rd quarter worth $43,000. 73.39% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction on 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. This trade represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Up 0.7 %

Shares of NASDAQ TROW opened at $114.21 on Monday. The firm has a market capitalization of $25.37 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 1.68 and a beta of 1.43. T. Rowe Price Group, Inc. has a 1 year low of $100.49 and a 1 year high of $125.81. The firm’s 50-day moving average is $117.22 and its 200-day moving average is $112.79.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate 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 last year, the company posted $2.17 EPS. As a group, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.45 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a $1.24 dividend. The ex-dividend date was Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.34%. T. Rowe Price Group’s dividend payout ratio is presently 54.27%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TROW shares. The Goldman Sachs Group reduced their price target on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research report on Thursday, October 3rd. Barclays reduced their target price on T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating for the company in a report on Friday, January 17th. Keefe, Bruyette & Woods cut their price objective on T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a report on Monday, January 13th. TD Cowen reduced 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 research note on Monday, November 4th. Finally, JPMorgan Chase & Co. reduced their price target on 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. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $115.82.

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.