Confluence Investment Management LLC Increases Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Confluence Investment Management LLC grew its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 986,521 shares of the asset manager’s stock after acquiring an additional 2,532 shares during the quarter. T. Rowe Price Group comprises 1.5% of Confluence Investment Management LLC’s investment portfolio, making the stock its 24th biggest holding. Confluence Investment Management LLC owned about 0.44% of T. Rowe Price Group worth $111,566,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also 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 third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 110 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of T. Rowe Price Group by 54.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after buying an additional 104 shares in the last quarter. True Wealth Design LLC purchased a new position in shares of T. Rowe Price Group in the 3rd quarter valued at $37,000. Larson Financial Group LLC grew its position in shares of T. Rowe Price Group by 866.7% in the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after buying an additional 312 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in T. Rowe Price Group during the 3rd quarter worth $43,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on TROW shares. Wells Fargo & Company upped their price objective on shares of T. Rowe Price Group from $112.00 to $124.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. The Goldman Sachs Group dropped their price target on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. Evercore ISI boosted their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft increased their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a report on Monday, November 11th. Finally, TD Cowen cut their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $117.00.

T. Rowe Price Group Stock Performance

TROW traded up $0.67 during trading on Thursday, hitting $113.76. The stock had a trading volume of 196,269 shares, compared to its average volume of 1,278,027. T. Rowe Price Group, Inc. has a twelve month low of $100.49 and a twelve month high of $125.81. The firm has a market capitalization of $25.27 billion, a P/E ratio of 12.45, a PEG ratio of 1.73 and a beta of 1.42. The company’s 50-day moving average price is $118.05 and its 200 day moving average price is $113.19.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the prior year, the company posted $2.17 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

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 dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date was Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is presently 54.27%.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.00% of the stock is currently 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.