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

Avidian Wealth Enterprises LLC boosted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 68.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,059 shares of the asset manager’s stock after buying an additional 1,653 shares during the period. Avidian Wealth Enterprises LLC’s holdings in T. Rowe Price Group were worth $459,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Insight Folios Inc boosted its holdings in shares of T. Rowe Price Group by 3.6% during the 3rd quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock worth $285,000 after purchasing an additional 90 shares during the last quarter. Keystone Financial Services boosted its holdings in shares of T. Rowe Price Group by 5.1% during the 3rd quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock worth $205,000 after purchasing an additional 92 shares during the last quarter. MCF Advisors LLC boosted its holdings in shares of T. Rowe Price Group by 1.5% during the 4th quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock worth $704,000 after purchasing an additional 93 shares during the last quarter. Nvwm LLC boosted its holdings in shares of T. Rowe Price Group by 2.2% during the 3rd quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock worth $490,000 after purchasing an additional 95 shares during the last quarter. Finally, Strategy Asset Managers LLC boosted its holdings in shares of T. Rowe Price Group by 4.6% during the 3rd quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock worth $236,000 after purchasing an additional 95 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction 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 sale, the vice president now owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the sale, the vice president now directly owns 36,800 shares in the company, valued at $4,021,136. This represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

T. Rowe Price Group Stock Up 0.3 %

NASDAQ:TROW opened at $107.24 on Friday. The stock’s fifty day moving average is $114.89 and its two-hundred day moving average is $112.44. T. Rowe Price Group, Inc. has a 52 week low of $100.49 and a 52 week high of $125.81. The stock has a market capitalization of $23.82 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.61%. During the same period last year, the firm earned $1.72 EPS. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.36 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 4.74%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date is Friday, March 14th. T. Rowe Price Group’s dividend payout ratio is 54.15%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Morgan Stanley boosted their target price on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Evercore ISI boosted their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft upped their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a report on Monday, November 11th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $115.09.

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.