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

Merit Financial Group LLC acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,467 shares of the asset manager’s stock, valued at approximately $266,000.

A number of other hedge funds also recently made changes to their positions in the business. Clear Harbor Asset Management LLC increased its holdings in shares of T. Rowe Price Group by 3.2% during the 4th quarter. Clear Harbor Asset Management LLC now owns 3,240 shares of the asset manager’s stock worth $349,000 after acquiring an additional 100 shares during the last quarter. Caprock Group LLC lifted its holdings in T. Rowe Price Group by 4.7% during the 4th quarter. Caprock Group LLC now owns 2,251 shares of the asset manager’s stock valued at $242,000 after purchasing an additional 101 shares during the last quarter. Roundview Capital LLC boosted its position in T. Rowe Price Group by 0.5% during the third quarter. Roundview Capital LLC now owns 22,279 shares of the asset manager’s stock worth $2,336,000 after purchasing an additional 105 shares during the period. Creative Financial Designs Inc. ADV increased its holdings in shares of T. Rowe Price Group by 83.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 106 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of T. Rowe Price Group by 2.6% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,451 shares of the asset manager’s stock valued at $467,000 after purchasing an additional 114 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TROW. Wells Fargo & Company raised their target price on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. raised their price objective on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. UBS Group upped their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday, April 12th. Evercore ISI lowered their target price on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 30th. Finally, TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and boosted their price target for the company from $92.00 to $114.00 in a research note on Monday, April 8th. Four research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat.com, T. Rowe Price Group has an average rating of “Hold” and an average target price of $112.10.

T. Rowe Price Group Trading Up 0.2 %

Shares of TROW stock opened at $111.49 on Thursday. The stock has a market cap of $24.90 billion, a P/E ratio of 13.24, a price-to-earnings-growth ratio of 1.93 and a beta of 1.40. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $132.76. The stock has a 50 day simple moving average of $115.24 and a 200 day simple moving average of $107.68.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.34. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.69 EPS. Analysts forecast that T. Rowe Price Group, Inc. will post 8.75 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.45%. T. Rowe Price Group’s dividend payout ratio is 58.91%.

Insiders Place Their Bets

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the sale, the insider now owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction on Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the transaction, the director now owns 34,635 shares in the company, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. Insiders have sold 12,921 shares of company stock worth $1,500,133 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Company 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.