LPL Financial LLC Grows Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

LPL Financial LLC increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 15.8% in the 4th quarter, HoldingsChannel reports. The firm owned 426,288 shares of the asset manager’s stock after acquiring an additional 58,286 shares during the quarter. LPL Financial LLC’s holdings in T. Rowe Price Group were worth $48,209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Addison Advisors LLC raised its stake in shares of T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after buying an additional 93 shares during the last quarter. Curio Wealth LLC acquired a new stake in T. Rowe Price Group during the fourth quarter worth about $27,000. Y.D. More Investments Ltd grew its holdings in T. Rowe Price Group by 124.0% during the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after acquiring an additional 155 shares during the period. Stonebridge Financial Group LLC acquired a new position in T. Rowe Price Group in the fourth quarter valued at approximately $32,000. Finally, Advantage Trust Co boosted its position in T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after purchasing an additional 100 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $94.70 on Friday. The stock has a 50 day moving average price of $105.04 and a 200 day moving average price of $110.90. The stock has a market capitalization of $21.08 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a one year low of $91.37 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same quarter in the previous year, the business posted $1.72 EPS. On average, analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $1.27 dividend. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a yield of 5.36%. T. Rowe Price Group’s dividend payout ratio is presently 55.46%.

Analyst Upgrades and Downgrades

TROW has been the subject of several recent research reports. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Barclays lowered their target price on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. Morgan Stanley cut their price target on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Finally, Wells Fargo & Company lowered their price target on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $114.09.

Insiders Place Their Bets

In related news, VP Arif Husain sold 4,112 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the sale, the vice president now owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.