Congress Wealth Management LLC DE Buys 5,192 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Congress Wealth Management LLC DE grew its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 93,074 shares of the asset manager’s stock after acquiring an additional 5,192 shares during the quarter. Congress Wealth Management LLC DE’s holdings in T. Rowe Price Group were worth $10,526,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Nilsine Partners LLC grew its position in 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 valued at $623,000 after purchasing an additional 2,370 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of T. Rowe Price Group by 2.8% in the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock worth $30,062,000 after buying an additional 7,503 shares in the last quarter. Amundi grew its holdings in shares of T. Rowe Price Group by 30.1% during the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock valued at $194,064,000 after buying an additional 397,278 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of T. Rowe Price Group by 5.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager’s stock valued at $40,436,000 after acquiring an additional 20,062 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings 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 worth $3,267,000 after acquiring an additional 1,100 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on TROW shares. Wells Fargo & Company cut their target price on 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. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $113.00 target price (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Morgan Stanley reduced their price target on shares of 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. Finally, Barclays lowered their price objective on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. 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, the company has an average rating of “Hold” and an average price target of $114.09.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $95.98 on Tuesday. The company has a market cap of $21.37 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 1 year low of $91.37 and a 1 year high of $125.81. The firm has a fifty day moving average price of $106.10 and a 200-day moving average price of $111.18.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) 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 business posted $1.72 EPS. Equities research analysts expect 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 disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $1.27 per share. The ex-dividend date of this dividend is Friday, March 14th. 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 dividend yield of 5.29%. T. Rowe Price Group’s payout ratio is 55.46%.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the transaction, the vice president now directly owns 36,800 shares in the company, valued at $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by insiders.

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.