Sheaff Brock Investment Advisors LLC Invests $1.40 Million in T. Rowe Price Group Inc (TROW)

Sheaff Brock Investment Advisors LLC bought a new stake in T. Rowe Price Group Inc (NASDAQ:TROW) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 13,320 shares of the asset manager’s stock, valued at approximately $1,398,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Mutual Advisors LLC purchased a new position in shares of T. Rowe Price Group in the 4th quarter valued at $527,000. Brown Advisory Securities LLC grew its position in shares of T. Rowe Price Group by 6.2% in the 4th quarter. Brown Advisory Securities LLC now owns 28,319 shares of the asset manager’s stock valued at $2,959,000 after buying an additional 1,656 shares during the last quarter. West Chester Capital Advisors Inc. purchased a new position in shares of T. Rowe Price Group in the 4th quarter valued at $307,000. First Republic Investment Management Inc. grew its position in shares of T. Rowe Price Group by 0.7% in the 4th quarter. First Republic Investment Management Inc. now owns 151,636 shares of the asset manager’s stock valued at $15,911,000 after buying an additional 997 shares during the last quarter. Finally, Timber Hill LLC purchased a new position in shares of T. Rowe Price Group in the 4th quarter valued at $886,000. 72.16% of the stock is currently owned by hedge funds and other institutional investors.

TROW has been the topic of several research reports. Bank of America raised shares of T. Rowe Price Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $113.00 to $125.00 in a research report on Monday, January 8th. Barclays raised their price objective on shares of T. Rowe Price Group from $79.00 to $84.00 and gave the stock an “underweight” rating in a research report on Friday, October 27th. UBS Group raised shares of T. Rowe Price Group from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $75.00 to $110.00 in a research report on Tuesday, January 9th. Zacks Investment Research raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $118.00 price objective on the stock in a research report on Wednesday, December 27th. Finally, ValuEngine raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $100.60.

Shares of T. Rowe Price Group Inc (NASDAQ TROW) opened at $109.95 on Thursday. The firm has a market cap of $26,866.89, a PE ratio of 18.42, a PEG ratio of 1.25 and a beta of 1.28. T. Rowe Price Group Inc has a fifty-two week low of $66.70 and a fifty-two week high of $120.07.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Tuesday, January 30th. The asset manager reported $1.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.04. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.27 billion. T. Rowe Price Group had a net margin of 31.07% and a return on equity of 25.30%. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.21 earnings per share. analysts predict that T. Rowe Price Group Inc will post 7.11 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be issued a $0.70 dividend. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $0.57. The ex-dividend date is Wednesday, March 14th. This represents a $2.80 annualized dividend and a dividend yield of 2.55%. T. Rowe Price Group’s payout ratio is presently 38.19%.

In other news, CFO Kenneth V. Moreland sold 15,082 shares of T. Rowe Price Group stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $99.44, for a total value of $1,499,754.08. Following the sale, the chief financial officer now owns 110,182 shares of the company’s stock, valued at $10,956,498.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Freeman A. Hrabowski III sold 4,000 shares of T. Rowe Price Group stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $101.59, for a total transaction of $406,360.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 160,561 shares of company stock worth $16,464,377. Insiders own 3.60% of the company’s stock.

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T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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