Assetmark Inc. Has $55.61 Million Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Assetmark Inc. raised its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 491,726 shares of the asset manager’s stock after buying an additional 10,488 shares during the period. Assetmark Inc.’s holdings in T. Rowe Price Group were worth $55,609,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Addison Advisors LLC boosted its position in shares of T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after buying an additional 93 shares during the last quarter. Y.D. More Investments Ltd lifted its position in shares of T. Rowe Price Group by 124.0% during the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 155 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in T. Rowe Price Group during the fourth quarter worth about $32,000. Advantage Trust Co increased its stake in T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after buying an additional 100 shares during the last quarter. Finally, True Wealth Design LLC bought a new position in shares of T. Rowe Price Group during the 3rd quarter worth approximately $37,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Performance

TROW stock opened at $100.10 on Wednesday. The firm has a market cap of $22.29 billion, a P/E ratio of 10.93, a P/E/G ratio of 2.86 and a beta of 1.44. The firm’s fifty day moving average is $111.17 and its 200 day moving average is $112.33. T. Rowe Price Group, Inc. has a 52 week low of $98.70 and a 52 week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same period in the prior year, the company posted $1.72 earnings per share. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $1.27 dividend. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date of this dividend is Friday, March 14th. T. Rowe Price Group’s dividend payout ratio is presently 55.46%.

Wall Street Analysts Forecast Growth

TROW has been the subject of several recent analyst reports. Barclays reduced their target price on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Evercore ISI upped their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Wells Fargo & Company cut their price target on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Finally, Morgan Stanley decreased their price objective on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $114.09.

Insiders Place Their Bets

In other news, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the transaction, the vice president now directly owns 36,800 shares of the company’s stock, valued at $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction dated Tuesday, December 10th. The stock was 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 of the company’s stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

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.