T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Purchased by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC lifted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 54.6% in the 4th quarter, Holdings Channel.com reports. 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its stake in T. Rowe Price Group by 2.8% during the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock worth $30,062,000 after acquiring an additional 7,503 shares during the period. Janus Henderson Group PLC grew its holdings in shares of T. Rowe Price Group by 3.8% during the third quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock valued at $3,267,000 after purchasing an additional 1,100 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of T. Rowe Price Group during the 2nd quarter worth approximately $15,907,000. Aigen Investment Management LP bought a new stake in shares of T. Rowe Price Group in the 3rd quarter worth approximately $516,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of T. Rowe Price Group by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after purchasing an additional 231,286 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TROW. JPMorgan Chase & Co. dropped their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Barclays lifted their price objective on shares of T. Rowe Price Group from $110.00 to $115.00 and gave the company an “underweight” rating in a research report on Monday, December 9th. TD Cowen reduced their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $116.00.

T. Rowe Price Group Stock Performance

TROW opened at $113.32 on Thursday. The company has a market capitalization of $25.18 billion, a PE ratio of 12.40, a P/E/G ratio of 1.73 and a beta of 1.43. The stock’s fifty day moving average is $118.12 and its 200-day moving average is $112.86. T. Rowe Price Group, Inc. has a one year low of $100.49 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping 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 firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the previous year, the business earned $2.17 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities research analysts forecast 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. Investors of record on Friday, December 13th were paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend was Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is presently 54.27%.

Insider Buying and Selling

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction on 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 owns 119,577 shares in the company, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is currently owned by insiders.

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.