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

Partnership Wealth Management LLC grew its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 17.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,246 shares of the asset manager’s stock after purchasing an additional 1,789 shares during the quarter. T. Rowe Price Group makes up approximately 1.2% of Partnership Wealth Management LLC’s holdings, making the stock its 20th biggest position. Partnership Wealth Management LLC’s holdings in T. Rowe Price Group were worth $1,385,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. 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 valued at $745,169,000 after buying an additional 231,286 shares in the last quarter. Geode Capital Management LLC lifted its holdings in T. Rowe Price Group by 0.5% during the third quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager’s stock valued at $598,801,000 after purchasing an additional 25,481 shares in the last quarter. American Century Companies Inc. boosted its position in shares of T. Rowe Price Group by 4.5% in the second quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock worth $289,750,000 after purchasing an additional 107,086 shares during the period. Provident Trust Co. increased its stake in shares of T. Rowe Price Group by 0.3% in the third quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager’s stock worth $261,185,000 after purchasing an additional 7,905 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of T. Rowe Price Group by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 1,861,454 shares of the asset manager’s stock valued at $202,768,000 after purchasing an additional 47,998 shares during the period. Institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction on Tuesday, December 10th. The stock was 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 approximately $14,749,822.95. This trade represents a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is owned by insiders.

T. Rowe Price Group Trading Down 0.2 %

Shares of NASDAQ TROW traded down $0.28 during mid-day 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. The stock has a market cap of $25.07 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 1.73 and a beta of 1.43. T. Rowe Price Group, Inc. has a 52 week low of $100.49 and a 52 week high of $125.81. The business’s 50-day moving average is $118.20 and its 200-day moving average is $113.05.

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

T. Rowe Price Group Announces Dividend

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

Wall Street Analyst Weigh In

TROW has been the subject of a number of analyst reports. Evercore ISI raised their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods lifted their target price on T. Rowe Price Group from $114.00 to $116.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Wells Fargo & Company upped their price target on T. Rowe Price Group from $112.00 to $124.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Morgan Stanley lifted their price objective on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Finally, The Goldman Sachs Group reduced their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a report on Thursday, October 3rd. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $117.00.

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.