Pinnacle Wealth Management Advisory Group LLC Decreases Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Pinnacle Wealth Management Advisory Group LLC lowered its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,536 shares of the asset manager’s stock after selling 119 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in T. Rowe Price Group were worth $513,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC grew its holdings in shares of T. Rowe Price Group by 90.9% during the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after buying an additional 110 shares in the last quarter. Y.D. More Investments Ltd grew its stake in T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after acquiring an additional 155 shares during the period. Stonebridge Financial Group LLC acquired a new position in T. Rowe Price Group in the 4th quarter valued at $32,000. True Wealth Design LLC acquired a new stake in shares of T. Rowe Price Group during the third quarter worth $37,000. Finally, Larson Financial Group LLC grew its position in shares of T. Rowe Price Group by 866.7% in the third 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 period. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

TROW stock opened at $107.17 on Monday. The stock has a 50-day simple moving average of $114.21 and a 200-day simple moving average of $112.36. The firm has a market cap of $23.81 billion, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44. 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 posted its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.91%. During the same quarter in the previous year, the business posted $1.72 EPS. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.36 EPS for the current year.

T. Rowe Price Group Increases Dividend

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

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 36,800 shares of the company’s stock, valued at $4,021,136. This represents a 10.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’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 transaction of $499,197.45. Following the sale, the vice president now directly 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 disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on TROW. TD Cowen lowered their price target 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. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Evercore ISI increased their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Barclays lowered their price objective on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Finally, StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and a consensus target price of $115.09.

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.