Ridgewood Investments LLC Increases Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Ridgewood Investments LLC grew its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.9% during the fourth quarter, HoldingsChannel reports. The fund owned 15,770 shares of the asset manager’s stock after acquiring an additional 287 shares during the quarter. T. Rowe Price Group comprises about 0.9% of Ridgewood Investments LLC’s holdings, making the stock its 21st largest position. Ridgewood Investments LLC’s holdings in T. Rowe Price Group were worth $1,783,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TROW. Principal Financial Group Inc. boosted its position in shares of T. Rowe Price Group by 2.8% in the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock worth $30,062,000 after purchasing an additional 7,503 shares in the last quarter. Forsta AP Fonden boosted its position in shares of T. Rowe Price Group by 32.3% in the 2nd quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock worth $8,083,000 after purchasing an additional 17,100 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of 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 purchasing an additional 1,100 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of T. Rowe Price Group in the 2nd quarter worth $15,907,000. Finally, Aigen Investment Management LP acquired a new stake in shares of T. Rowe Price Group in the 3rd quarter worth $516,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Down 3.5 %

Shares of TROW stock traded down $3.91 on Friday, hitting $108.93. The company had a trading volume of 522,678 shares, compared to its average volume of 954,510. The firm has a market cap of $24.20 billion, a P/E ratio of 11.92, a price-to-earnings-growth ratio of 1.73 and a beta of 1.43. The company has a 50-day moving average price of $118.28 and a 200-day moving average price of $113.04. T. Rowe Price Group, Inc. has a twelve month low of $100.49 and a twelve month high of $125.81.

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

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a $1.24 dividend. The ex-dividend date was Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.55%. T. Rowe Price Group’s dividend payout ratio is presently 54.27%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft lifted their price target on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods lifted their price target on T. Rowe Price Group from $114.00 to $116.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Finally, TD Cowen lowered their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $117.00.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group 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 stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the sale, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is owned by company insiders.

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.