Wynn Capital LLC Takes Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Wynn Capital LLC acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,732 shares of the asset manager’s stock, valued at approximately $510,000.

Other hedge funds have also modified their holdings of the company. OFI Invest Asset Management bought a new position in T. Rowe Price Group in the 3rd quarter valued at $25,000. Creative Financial Designs Inc. ADV lifted its stake in shares of T. Rowe Price Group by 83.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after purchasing an additional 106 shares during the last quarter. Park Place Capital Corp lifted its stake in shares of T. Rowe Price Group by 1,775.0% during the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after purchasing an additional 284 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in shares of T. Rowe Price Group during the 4th quarter worth $33,000. Finally, NBC Securities Inc. purchased a new stake in shares of T. Rowe Price Group during the 3rd quarter worth $39,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the transaction, the director now owns 21,073 shares in the company, valued at approximately $2,493,357.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Jessica M. Hiebler sold 1,138 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the sale, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the sale, the director now directly owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock traded down $0.88 during trading on Wednesday, reaching $111.06. 1,053,896 shares of the company were exchanged, compared to its average volume of 1,415,362. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $132.76. The company has a market capitalization of $24.84 billion, a P/E ratio of 14.43, a PEG ratio of 2.09 and a beta of 1.40. The stock’s 50 day simple moving average is $114.89 and its two-hundred day simple moving average is $106.95.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.12. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the business earned $1.74 earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 8.36 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $1.24 per share. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. The ex-dividend date was Thursday, March 14th. This represents a $4.96 annualized dividend and a yield of 4.47%. T. Rowe Price Group’s dividend payout ratio is 63.92%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. increased their price target on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Morgan Stanley increased their price objective on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. TD Cowen raised T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their price objective for the company from $92.00 to $114.00 in a report on Monday, April 8th. Finally, Wells Fargo & Company raised their target price on T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a report on Friday, February 9th. Four investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $112.67.

T. Rowe Price Group Company 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.