Ridgewood Investments LLC Purchases 287 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Ridgewood Investments LLC boosted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,770 shares of the asset manager’s stock after buying an additional 287 shares during the period. T. Rowe Price Group makes up about 0.9% of Ridgewood Investments LLC’s portfolio, making the stock its 21st biggest holding. Ridgewood Investments LLC’s holdings in T. Rowe Price Group were worth $1,783,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Partnership Wealth Management LLC boosted its stake in T. Rowe Price Group by 17.1% during the fourth quarter. Partnership Wealth Management LLC now owns 12,246 shares of the asset manager’s stock valued at $1,385,000 after buying an additional 1,789 shares during the last quarter. Nordea Investment Management AB boosted its stake in T. Rowe Price Group by 4.5% during the fourth quarter. Nordea Investment Management AB now owns 18,925 shares of the asset manager’s stock valued at $2,152,000 after buying an additional 808 shares during the last quarter. GAMMA Investing LLC boosted its stake in T. Rowe Price Group by 26.6% during the fourth quarter. GAMMA Investing LLC now owns 3,451 shares of the asset manager’s stock valued at $390,000 after buying an additional 725 shares during the last quarter. Confluence Investment Management LLC boosted its stake in T. Rowe Price Group by 0.3% during the fourth quarter. Confluence Investment Management LLC now owns 986,521 shares of the asset manager’s stock valued at $111,566,000 after buying an additional 2,532 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in T. Rowe Price Group by 2.8% during the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock valued at $30,062,000 after buying an additional 7,503 shares during the last quarter. 73.39% of the stock is 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 value of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on TROW. Barclays raised their price objective on T. Rowe Price Group from $110.00 to $115.00 and gave the company an “underweight” rating in a research note on Monday, December 9th. The Goldman Sachs Group lowered their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on 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. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods raised their price objective on T. Rowe Price Group from $114.00 to $116.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus price target of $117.00.

T. Rowe Price Group Trading Down 3.5 %

Shares of TROW stock traded down $3.91 on Friday, reaching $108.93. 522,678 shares of the company’s stock were exchanged, compared to its average volume of 954,510. T. Rowe Price Group, Inc. has a 52 week low of $100.49 and a 52 week high of $125.81. The stock has a market capitalization of $24.20 billion, a PE ratio of 11.92, a P/E/G ratio of 1.73 and a beta of 1.43. The company’s fifty day simple moving average is $118.28 and its 200 day simple moving average is $113.04.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data 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 company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. T. Rowe Price Group’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the business posted $2.17 EPS. As a group, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 4.55%. 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.