Brady Family Wealth LLC Lowers Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Brady Family Wealth LLC reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,812 shares of the asset manager’s stock after selling 1,197 shares during the quarter. Brady Family Wealth LLC’s holdings in T. Rowe Price Group were worth $2,354,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. increased its holdings in T. Rowe Price Group by 35.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,456 shares of the asset manager’s stock valued at $1,295,000 after buying an additional 3,014 shares in the last quarter. Park Avenue Securities LLC acquired a new stake in shares of T. Rowe Price Group during the 4th quarter valued at about $474,000. Assenagon Asset Management S.A. increased its stake in shares of T. Rowe Price Group by 1,803.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 70,533 shares of the asset manager’s stock valued at $7,977,000 after purchasing an additional 66,828 shares in the last quarter. Wynn Capital LLC raised its holdings in T. Rowe Price Group by 2.3% in the 4th quarter. Wynn Capital LLC now owns 5,402 shares of the asset manager’s stock worth $611,000 after purchasing an additional 120 shares during the period. Finally, Fiduciary Financial Group LLC purchased a new position in T. Rowe Price Group during the fourth quarter worth approximately $269,000. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $113.32 on Thursday. The business’s 50 day moving average price is $118.12 and its 200 day moving average price is $112.86. The company has a market cap of $25.18 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 1.42 and a beta of 1.43. T. Rowe Price Group, Inc. has a one year low of $100.49 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. T. Rowe Price Group’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.17 earnings per share. On average, analysts predict that T. Rowe Price Group, Inc. will post 9.46 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm 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. This represents a $4.96 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend was Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is presently 54.27%.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TROW has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. reduced their price objective on shares of 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. Evercore ISI lifted 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. Morgan Stanley upped their price target on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Finally, Keefe, Bruyette & Woods lowered their price objective on T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating on the stock in a report on Monday. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $116.00.

T. Rowe Price Group Profile

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.