Grimes & Company Inc. Acquires 4,795 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Grimes & Company Inc. increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 191,099 shares of the asset manager’s stock after purchasing an additional 4,795 shares during the period. Grimes & Company Inc. owned approximately 0.09% of T. Rowe Price Group worth $21,611,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in shares of T. Rowe Price Group by 2.8% during the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock valued at $30,062,000 after purchasing an additional 7,503 shares in the last quarter. Janus Henderson Group PLC raised its position in T. Rowe Price Group by 3.8% in the 3rd quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock valued at $3,267,000 after buying an additional 1,100 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in T. Rowe Price Group in the 2nd quarter valued at approximately $15,907,000. Aigen Investment Management LP acquired a new stake in T. Rowe Price Group in the 3rd quarter valued at approximately $516,000. Finally, Charles Schwab Investment Management Inc. raised its position in T. Rowe Price Group by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock valued at $745,169,000 after buying an additional 231,286 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 0.7 %

T. Rowe Price Group stock opened at $114.21 on Friday. The company has a market capitalization of $25.37 billion, a PE ratio of 12.50, a P/E/G ratio of 1.68 and a beta of 1.43. T. Rowe Price Group, Inc. has a 12 month low of $100.49 and a 12 month high of $125.81. The stock has a 50-day moving average price of $117.22 and a two-hundred day moving average price of $112.80.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the company earned $2.17 earnings per share. The business’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, analysts predict 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 disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a $1.24 dividend. 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 4.34%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.27%.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s 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 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Morgan Stanley lifted their target price on T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Deutsche Bank Aktiengesellschaft upped their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. dropped their price target 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 dropped their price target on T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th. Finally, StockNews.com upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating in a research note on Saturday. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $115.82.

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.