T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 27.7% during the 4th quarter, HoldingsChannel reports. The fund owned 7,797 shares of the asset manager’s stock after acquiring an additional 1,693 shares during the quarter. Apollon Wealth Management LLC’s holdings in T. Rowe Price Group were worth $882,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Iron Horse Wealth Management LLC boosted its position in shares of T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 110 shares during the last quarter. Y.D. More Investments Ltd raised its holdings in T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after buying an additional 155 shares during the period. True Wealth Design LLC purchased a new stake in T. Rowe Price Group in the 3rd quarter valued at about $37,000. Larson Financial Group LLC raised its holdings in T. Rowe Price Group by 866.7% in the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after buying an additional 312 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in T. Rowe Price Group in the 3rd quarter valued at about $43,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TROW shares. JPMorgan Chase & Co. reduced their price objective on shares of 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. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Evercore ISI boosted their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, TD Cowen cut their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and an average price target of $115.09.

Insider Activity at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the transaction, the vice president now directly owns 119,577 shares of the company’s stock, valued at $14,749,822.95. This represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Stock Performance

TROW stock opened at $109.03 on Wednesday. The company’s 50 day moving average price is $115.50 and its 200 day moving average price is $112.50. T. Rowe Price Group, Inc. has a fifty-two week low of $100.49 and a fifty-two week high of $125.81. The firm has a market capitalization of $24.22 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 1.70 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.61%. During the same quarter in the previous year, the business earned $1.72 EPS. Equities analysts forecast that T. Rowe Price Group, Inc. will post 9.36 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 4.66%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio is 54.15%.

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.