Partnership Wealth Management LLC Boosts Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Partnership Wealth Management LLC lifted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 17.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,246 shares of the asset manager’s stock after buying an additional 1,789 shares during the period. T. Rowe Price Group makes up approximately 1.2% of Partnership Wealth Management LLC’s holdings, making the stock its 20th largest holding. Partnership Wealth Management LLC’s holdings in T. Rowe Price Group were worth $1,385,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. International Assets Investment Management LLC grew its holdings in T. Rowe Price Group by 7,992.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock worth $116,300,000 after acquiring an additional 1,054,461 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of T. Rowe Price Group by 382.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock worth $43,373,000 after purchasing an additional 315,581 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in 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 valued at $745,169,000 after purchasing an additional 231,286 shares during the period. Dimensional Fund Advisors LP increased its holdings in T. Rowe Price Group by 15.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock valued at $185,810,000 after purchasing an additional 220,105 shares during the period. Finally, AQR Capital Management LLC raised its position in T. Rowe Price Group by 77.2% during the 2nd quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock valued at $52,032,000 after purchasing an additional 196,565 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Morgan Stanley upped their target price on T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. TD Cowen reduced their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. JPMorgan Chase & Co. decreased their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Finally, StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Saturday, December 28th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $117.00.

T. Rowe Price Group Stock Down 0.2 %

Shares of NASDAQ TROW traded down $0.28 during trading on Wednesday, reaching $112.84. The company had a trading volume of 1,014,344 shares, compared to its average volume of 1,037,340. T. Rowe Price Group, Inc. has a 12-month low of $100.49 and a 12-month high of $125.81. The business’s 50-day moving average is $118.20 and its 200 day moving average is $113.05. The stock has a market cap of $25.07 billion, a PE ratio of 12.35, a P/E/G ratio of 1.73 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. T. Rowe Price Group’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business earned $2.17 EPS. On average, analysts anticipate that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date was Friday, December 13th. T. Rowe Price Group’s payout ratio is 54.27%.

Insider Transactions at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the transaction, the vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.

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.