Ellsworth Advisors LLC Purchases Shares of 41,986 T. Rowe Price Group, Inc. (NASDAQ:TROW)

Ellsworth Advisors LLC purchased a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 41,986 shares of the asset manager’s stock, valued at approximately $4,748,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Iron Horse Wealth Management LLC increased its stake in T. Rowe Price Group by 90.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after acquiring an additional 110 shares during the last quarter. Hexagon Capital Partners LLC increased its position in shares of T. Rowe Price Group by 54.7% in the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after purchasing an additional 104 shares during the last quarter. True Wealth Design LLC purchased a new stake in T. Rowe Price Group in the third quarter valued at approximately $37,000. Larson Financial Group LLC raised its stake in 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 in the last quarter. Finally, Brooklyn Investment Group bought a new stake in T. Rowe Price Group during the third quarter valued at approximately $43,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insiders Place Their Bets

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were 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 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 SEC, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Up 1.0 %

Shares of NASDAQ TROW opened at $113.21 on Monday. The company has a market cap of $25.15 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.42 and a beta of 1.43. The firm’s fifty day moving average is $117.71 and its 200 day moving average is $112.84. T. Rowe Price Group, Inc. has a 52 week low of $100.49 and a 52 week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share 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 firm 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 earned $2.17 EPS. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.46 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders 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 4.38%. T. Rowe Price Group’s payout ratio is 54.27%.

Analyst Ratings Changes

A number of equities analysts have recently commented on TROW shares. JPMorgan Chase & Co. decreased their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Morgan Stanley raised their price target on T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Barclays cut their price objective on T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating for the company in a report on Friday. Wells Fargo & Company decreased their price objective on T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Finally, Evercore ISI upped their target price on 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. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $115.82.

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.