Barlow Wealth Partners Inc. Buys Shares of 108,940 T. Rowe Price Group, Inc. (NASDAQ:TROW)

Barlow Wealth Partners Inc. purchased a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 108,940 shares of the asset manager’s stock, valued at approximately $11,732,000.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its stake in T. Rowe Price Group by 8,968.6% in the 4th quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager’s stock worth $97,152,000 after purchasing an additional 892,198 shares during the period. Qube Research & Technologies Ltd purchased a new position in shares of T. Rowe Price Group during the third quarter worth about $21,114,000. Charles Schwab Investment Management Inc. increased its position in shares of T. Rowe Price Group by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock worth $513,874,000 after purchasing an additional 134,839 shares during the last quarter. Invesco Ltd. lifted its position in T. Rowe Price Group by 7.6% during the third quarter. Invesco Ltd. now owns 1,684,057 shares of the asset manager’s stock valued at $176,607,000 after purchasing an additional 119,305 shares during the last quarter. Finally, Fisher Asset Management LLC grew its stake in T. Rowe Price Group by 6.7% in the 4th quarter. Fisher Asset Management LLC now owns 1,752,005 shares of the asset manager’s stock worth $188,674,000 after buying an additional 109,653 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TROW has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their target price for the company from $106.00 to $120.00 in a research note on Thursday, April 11th. Citigroup raised their price objective on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Morgan Stanley upped their target price on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. increased their target price on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. Finally, Evercore ISI dropped their price target on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 30th. Four investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $112.10.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock traded up $0.24 during trading on Wednesday, hitting $111.49. The stock had a trading volume of 1,317,792 shares, compared to its average volume of 1,447,603. The stock has a market cap of $24.90 billion, a PE ratio of 13.21, a PEG ratio of 1.93 and a beta of 1.40. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $132.76. The firm’s fifty day simple moving average is $115.24 and its 200-day simple moving average is $107.68.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the business earned $1.69 earnings per share. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. Analysts expect that T. Rowe Price Group, Inc. will post 8.75 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.45%. T. Rowe Price Group’s dividend payout ratio (DPR) is 58.91%.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the sale, the director now owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the sale, the insider now directly owns 14,113 shares in the company, valued at approximately $1,511,925.69. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the sale, the director now owns 34,635 shares in the company, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,921 shares of company stock valued at $1,500,133. Corporate insiders own 2.00% of the company’s stock.

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.