CWA Asset Management Group LLC Has $4.88 Million Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

CWA Asset Management Group LLC decreased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,114 shares of the asset manager’s stock after selling 2,854 shares during the period. CWA Asset Management Group LLC’s holdings in T. Rowe Price Group were worth $4,876,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TROW. Insight Folios Inc raised its holdings in T. Rowe Price Group by 3.6% during the 3rd quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock worth $285,000 after purchasing an additional 90 shares during the last quarter. Keystone Financial Services increased its stake in shares of T. Rowe Price Group by 5.1% in the 3rd quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock valued at $205,000 after acquiring an additional 92 shares during the last quarter. Nvwm LLC increased its stake in shares of T. Rowe Price Group by 2.2% in the 3rd quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock valued at $490,000 after acquiring an additional 95 shares during the last quarter. Strategy Asset Managers LLC increased its stake in shares of T. Rowe Price Group by 4.6% in the 3rd quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock valued at $236,000 after acquiring an additional 95 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of T. Rowe Price Group by 29.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 430 shares of the asset manager’s stock valued at $49,000 after acquiring an additional 99 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

TROW traded up $0.81 during trading hours on Monday, reaching $115.50. The company’s stock had a trading volume of 225,068 shares, compared to its average volume of 684,598. T. Rowe Price Group, Inc. has a 52 week low of $100.49 and a 52 week high of $125.81. The company’s 50-day moving average is $118.14 and its 200-day moving average is $113.11. The firm has a market cap of $25.66 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 1.73 and a beta of 1.43.

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 for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the business earned $2.17 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities analysts anticipate 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 company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.29%. The ex-dividend date was Friday, December 13th. T. Rowe Price Group’s payout ratio is 54.27%.

Insiders Place Their Bets

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction that occurred 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wells Fargo & Company upped their price target on 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. Keefe, Bruyette & Woods upped their price target on T. Rowe Price Group from $114.00 to $116.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Saturday, December 28th. JPMorgan Chase & Co. lowered their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Finally, 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 note on Thursday, November 7th. Four equities research 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.com, T. Rowe Price Group has a consensus rating of “Hold” and a consensus price target of $117.00.

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.