Exeter Financial LLC Buys 1,490 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Exeter Financial LLC boosted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,807 shares of the asset manager’s stock after purchasing an additional 1,490 shares during the quarter. T. Rowe Price Group comprises 1.3% of Exeter Financial LLC’s holdings, making the stock its 29th largest holding. Exeter Financial LLC’s holdings in T. Rowe Price Group were worth $2,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TROW. Principal Financial Group Inc. boosted its holdings 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 valued at $30,062,000 after buying an additional 7,503 shares in the last quarter. Janus Henderson Group PLC boosted its stake in T. Rowe Price Group by 3.8% in the third quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock valued at $3,267,000 after acquiring an additional 1,100 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in T. Rowe Price Group in the second quarter worth $15,907,000. Aigen Investment Management LP acquired a new position in shares of T. Rowe Price Group during the third quarter worth $516,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of T. Rowe Price Group by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock valued at $745,169,000 after purchasing an additional 231,286 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Ratings Changes

TROW has been the topic of several research analyst reports. TD Cowen dropped their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Wells Fargo & Company boosted their price target on T. Rowe Price Group from $112.00 to $124.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. The Goldman Sachs Group decreased their price objective on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research report on Thursday, October 3rd. Barclays upped their price target on shares of T. Rowe Price Group from $110.00 to $115.00 and gave the company an “underweight” rating in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. lowered 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 note on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and a consensus price target of $116.55.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $110.63 on Tuesday. The firm has a market capitalization of $24.58 billion, a P/E ratio of 12.10, a PEG ratio of 1.73 and a beta of 1.43. The stock has a 50-day simple moving average of $118.17 and a two-hundred day simple moving average of $112.88. T. Rowe Price Group, Inc. has a fifty-two week low of $100.49 and a fifty-two week 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 company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the business earned $2.17 earnings per share. T. Rowe Price Group’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $1.24 per share. The ex-dividend date was Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.48%. T. Rowe Price Group’s dividend payout ratio is presently 54.27%.

Insider Buying and Selling at T. Rowe Price Group

In other 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 value of $499,197.45. Following the completion of the sale, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is owned by corporate insiders.

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.