Modera Wealth Management LLC Invests $407,000 in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Modera Wealth Management LLC acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,597 shares of the asset manager’s stock, valued at approximately $407,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TROW. Nilsine Partners LLC boosted its holdings in shares of T. Rowe Price Group by 75.5% during the 4th quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock worth $623,000 after buying an additional 2,370 shares during the period. Principal Financial Group Inc. boosted its holdings 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 acquiring an additional 7,503 shares during the period. Janus Henderson Group PLC grew its position in shares of T. Rowe Price Group by 3.8% in the third quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock valued at $3,267,000 after purchasing an additional 1,100 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of T. Rowe Price Group in the third quarter worth about $516,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of T. Rowe Price Group by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after purchasing an additional 231,286 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were 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 $14,749,822.95. This represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Arif Husain sold 4,112 shares of T. Rowe Price Group 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 sale, 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 position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $100.10 on Wednesday. The business’s fifty day moving average is $111.17 and its two-hundred 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. 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.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same quarter last year, the business earned $1.72 EPS. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 5.07%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date is Friday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.46%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TROW shares. Wells Fargo & Company lowered their price objective on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Evercore ISI boosted their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Keefe, Bruyette & Woods reissued 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 report on Thursday, February 6th. Finally, Morgan Stanley cut their price target on 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 research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $114.09.

T. Rowe Price Group Company 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.