West Oak Capital LLC Grows Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

West Oak Capital LLC grew its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 62.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,695 shares of the asset manager’s stock after purchasing an additional 4,510 shares during the period. West Oak Capital LLC’s holdings in T. Rowe Price Group were worth $1,323,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Iron Horse Wealth Management LLC increased its stake in T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 110 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in T. Rowe Price Group by 54.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after acquiring an additional 104 shares during the last quarter. True Wealth Design LLC acquired a new stake in T. Rowe Price Group during the 3rd quarter worth about $37,000. Larson Financial Group LLC grew its stake in T. Rowe Price Group by 866.7% during the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 312 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of T. Rowe Price Group in the third quarter valued at about $43,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

NASDAQ TROW traded down $4.29 during trading hours on Friday, reaching $108.55. The company’s stock had a trading volume of 2,164,023 shares, compared to its average volume of 1,238,487. The firm has a market capitalization of $24.12 billion, a price-to-earnings ratio of 11.88, a P/E/G ratio of 1.73 and a beta of 1.43. The company’s 50-day moving average is $118.28 and its two-hundred day moving average is $113.04. T. Rowe Price Group, Inc. has a 1-year low of $100.49 and a 1-year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping 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 business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the company posted $2.17 EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. Equities analysts forecast that T. Rowe Price Group, Inc. will post 9.39 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a $1.24 dividend. The ex-dividend date was Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.57%. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.27%.

Wall Street Analysts Forecast Growth

TROW has been the subject of a number of research reports. TD Cowen decreased their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Monday, November 11th. The Goldman Sachs Group cut their price objective on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. Evercore ISI boosted their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. lowered their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and an average price target of $117.00.

Insider Activity

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction 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 sale, the vice president now owns 119,577 shares of the company’s stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.00% of the company’s stock.

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.