Cooper Financial Group Makes New Investment in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Cooper Financial Group purchased a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 4th quarter, Holdings Channel reports. The fund purchased 2,124 shares of the asset manager’s stock, valued at approximately $240,000.

A number of other institutional investors have also recently modified their holdings of the business. Insight Folios Inc lifted its holdings in T. Rowe Price Group by 3.6% in the third quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock valued at $285,000 after acquiring an additional 90 shares during the period. Keystone Financial Services lifted its stake in shares of T. Rowe Price Group by 5.1% in the third quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock valued at $205,000 after purchasing an additional 92 shares during the period. Nvwm LLC boosted its holdings in T. Rowe Price Group by 2.2% during the third quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock worth $490,000 after buying an additional 95 shares in the last quarter. Strategy Asset Managers LLC grew its position in T. Rowe Price Group by 4.6% during the third quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock worth $236,000 after buying an additional 95 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in T. Rowe Price Group by 29.9% in the second quarter. EverSource Wealth Advisors LLC now owns 430 shares of the asset manager’s stock valued at $49,000 after buying an additional 99 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TROW shares. The Goldman Sachs Group decreased their price target on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. Wells Fargo & Company lowered their price target on shares of T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Barclays lifted their price objective on T. Rowe Price Group from $110.00 to $115.00 and gave the stock an “underweight” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. lowered their target price 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, Keefe, Bruyette & Woods cut their price target on T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a report on Monday. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $116.00.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the sale, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. This represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Stock Up 1.3 %

TROW stock opened at $112.11 on Wednesday. The stock has a market capitalization of $24.91 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 1.73 and a beta of 1.43. T. Rowe Price Group, Inc. has a 52-week low of $100.49 and a 52-week high of $125.81. The stock’s fifty day simple moving average is $118.12 and its 200-day simple moving average is $112.86.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the company earned $2.17 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, analysts anticipate that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a $1.24 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.42%. T. Rowe Price Group’s payout ratio is 54.27%.

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.