Horizon Advisory Services Inc. Acquires Shares of 2,725 T. Rowe Price Group, Inc. (NASDAQ:TROW)

Horizon Advisory Services Inc. acquired a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,725 shares of the asset manager’s stock, valued at approximately $308,000. T. Rowe Price Group comprises about 0.2% of Horizon Advisory Services Inc.’s portfolio, making the stock its 28th biggest holding.

A number of other large investors have also recently added to or reduced their stakes in TROW. Addison Advisors LLC boosted its stake in T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 93 shares during the last quarter. Y.D. More Investments Ltd boosted its stake in T. Rowe Price Group by 124.0% during the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 155 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of T. Rowe Price Group during the fourth quarter worth $32,000. Advantage Trust Co raised its holdings in shares of T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after purchasing an additional 100 shares during the period. Finally, True Wealth Design LLC acquired a new stake in shares of T. Rowe Price Group during the third quarter worth $37,000. 73.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the transaction, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Stock Up 0.3 %

TROW stock opened at $106.57 on Tuesday. 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’s 50-day simple moving average is $112.54 and its 200 day simple moving average is $112.43. The stock has a market cap of $23.73 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 2.86 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 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same quarter last year, the firm posted $1.72 EPS. Equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $1.27 per share. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 annualized dividend and a yield of 4.77%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.46%.

Analyst Ratings Changes

A number of brokerages have weighed in on TROW. Barclays dropped their target price on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. TD Cowen dropped their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Finally, Morgan Stanley dropped their target price on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a report on Monday. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $114.09.

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.