Hopwood Financial Services Inc. Invests $412,000 in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Hopwood Financial Services Inc. purchased a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 4th quarter, Holdings Channel reports. The fund purchased 3,644 shares of the asset manager’s stock, valued at approximately $412,000.

Several other hedge funds have also recently bought and sold shares of TROW. EverSource Wealth Advisors LLC increased its stake in shares of T. Rowe Price Group by 284.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,547 shares of the asset manager’s stock worth $175,000 after purchasing an additional 1,145 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of T. Rowe Price Group by 53.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 5,518 shares of the asset manager’s stock worth $624,000 after buying an additional 1,929 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of T. Rowe Price Group by 13.8% during the 4th quarter. HighTower Advisors LLC now owns 150,550 shares of the asset manager’s stock worth $17,026,000 after acquiring an additional 18,212 shares in the last quarter. Bender Robert & Associates acquired a new position in shares of T. Rowe Price Group during the 4th quarter valued at about $200,000. Finally, Donaldson Capital Management LLC raised its stake in shares of T. Rowe Price Group by 2.2% in the 4th quarter. Donaldson Capital Management LLC now owns 397,657 shares of the asset manager’s stock valued at $44,971,000 after acquiring an additional 8,641 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Down 2.5 %

T. Rowe Price Group stock opened at $96.30 on Wednesday. The business has a 50 day moving average price of $109.53 and a two-hundred day moving average price of $111.97. T. Rowe Price Group, Inc. has a 12 month low of $95.98 and a 12 month high of $125.81. The stock has a market cap of $21.44 billion, a price-to-earnings ratio of 10.51, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing analysts’ consensus estimates 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 last year, the business earned $1.72 earnings per share. On average, analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $1.27 dividend. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.28%. T. Rowe Price Group’s dividend payout ratio is currently 55.46%.

Insider Transactions at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the sale, the vice president now owns 36,800 shares of the company’s stock, valued at $4,021,136. The trade was a 10.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TROW shares. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Wells Fargo & Company cut their target price on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Barclays dropped their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. Finally, Morgan Stanley decreased their target price on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and an average price target of $114.09.

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.