Miracle Mile Advisors LLC Grows Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Miracle Mile Advisors LLC raised its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 54.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,693 shares of the asset manager’s stock after acquiring an additional 1,304 shares during the period. Miracle Mile Advisors LLC’s holdings in T. Rowe Price Group were worth $418,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new position in T. Rowe Price Group in the second quarter valued at $401,000. Dimensional Fund Advisors LP increased its stake in shares of T. Rowe Price Group by 15.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock valued at $185,810,000 after acquiring an additional 220,105 shares during the last quarter. Bradley Foster & Sargent Inc. CT lifted its holdings in shares of T. Rowe Price Group by 3.1% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 10,214 shares of the asset manager’s stock worth $1,178,000 after acquiring an additional 310 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of T. Rowe Price Group by 19.3% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 146,849 shares of the asset manager’s stock worth $16,933,000 after acquiring an additional 23,745 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of T. Rowe Price Group by 36.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 31,221 shares of the asset manager’s stock worth $3,600,000 after acquiring an additional 8,283 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on TROW. Morgan Stanley increased their price target on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. Evercore ISI increased 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 report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft boosted their price target on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. cut their price objective on 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. Finally, StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and an average target price of $116.00.

T. Rowe Price Group Stock Up 1.1 %

NASDAQ TROW opened at $113.32 on Thursday. T. Rowe Price Group, Inc. has a fifty-two week low of $100.49 and a fifty-two week high of $125.81. The business has a 50 day moving average price of $118.12 and a two-hundred day moving average price of $112.86. The stock has a market cap of $25.18 billion, a PE ratio of 12.40, a P/E/G ratio of 1.73 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating 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 business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the firm earned $2.17 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.39 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date of this dividend was Friday, December 13th. T. Rowe Price Group’s payout ratio is 54.27%.

Insider Transactions at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

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.