T. Rowe Price Group, Inc. (NASDAQ:TROW) is Keystone Financial Planning Inc.’s 8th Largest Position

Keystone Financial Planning Inc. increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,831 shares of the asset manager’s stock after purchasing an additional 985 shares during the period. T. Rowe Price Group makes up approximately 2.5% of Keystone Financial Planning Inc.’s portfolio, making the stock its 8th largest position. Keystone Financial Planning Inc.’s holdings in T. Rowe Price Group were worth $8,010,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings 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 purchasing an additional 7,503 shares in the last quarter. Janus Henderson Group PLC grew its position in 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 worth $3,267,000 after buying an additional 1,100 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in T. Rowe Price Group during the second quarter worth about $15,907,000. Aigen Investment Management LP acquired a new position in T. Rowe Price Group during the third quarter worth about $516,000. Finally, Charles Schwab Investment Management Inc. grew its position in T. Rowe Price Group by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after buying an additional 231,286 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW traded up $2.12 during midday trading on Monday, hitting $110.67. The company’s stock had a trading volume of 1,214,644 shares, compared to its average volume of 1,228,739. T. Rowe Price Group, Inc. has a 1-year low of $100.49 and a 1-year high of $125.81. The firm’s fifty day moving average price is $118.21 and its 200-day moving average price is $112.92. The firm has a market cap of $24.59 billion, a P/E ratio of 12.11, a P/E/G ratio of 1.73 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating 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 business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the business posted $2.17 EPS. The company’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, research analysts predict 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 company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a $1.24 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.48%. T. Rowe Price Group’s dividend payout ratio is presently 54.27%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’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 sale, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Barclays increased their price target 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. Evercore ISI increased their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. TD Cowen lowered 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 report on Monday, November 4th. Finally, JPMorgan Chase & Co. cut their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $116.55.

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.