1,825 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Acquired by Whitener Capital Management Inc.

Whitener Capital Management Inc. purchased a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 4th quarter, Holdings Channel.com reports. The fund purchased 1,825 shares of the asset manager’s stock, valued at approximately $206,000.

A number of other hedge funds also recently modified their holdings of the business. Dimensional Fund Advisors LP increased its position 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. Bradley Foster & Sargent Inc. CT boosted its stake in shares of T. Rowe Price Group by 3.1% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 10,214 shares of the asset manager’s stock valued at $1,178,000 after purchasing an additional 310 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of T. Rowe Price Group by 36.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 31,221 shares of the asset manager’s stock worth $3,600,000 after buying an additional 8,283 shares during the period. XTX Topco Ltd bought a new position in T. Rowe Price Group during the second quarter worth $925,000. Finally, Canada Pension Plan Investment Board lifted its stake in shares of T. Rowe Price Group by 1,328.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 162,010 shares of the asset manager’s stock valued at $18,681,000 after purchasing an additional 150,665 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $113.21 on Friday. The company has a market capitalization of $25.15 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.42 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 company has a 50-day simple moving average of $117.80 and a two-hundred day simple moving average of $112.86.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly 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 return on equity of 20.35% and a net margin of 30.35%. 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. T. Rowe Price Group’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.46 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a dividend of $1.24 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.38%. T. Rowe Price Group’s payout ratio is currently 54.27%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday. 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 note on Friday, December 20th. Wells Fargo & Company cut their target price on shares of T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Barclays decreased their price target on shares of T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating for the company in a research note on Friday. Finally, TD Cowen reduced their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $115.82.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the sale, the vice president now owns 119,577 shares of the company’s stock, 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 currently owned by 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.