Martel Wealth Advisors Inc Invests $339,000 in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Martel Wealth Advisors Inc acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 3,000 shares of the asset manager’s stock, valued at approximately $339,000.

Several other institutional investors also recently bought and sold shares of TROW. Charles Schwab Investment Management Inc. grew 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 acquiring an additional 231,286 shares during the period. Geode Capital Management LLC grew its holdings in T. Rowe Price Group by 0.5% in the third quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager’s stock valued at $598,801,000 after purchasing an additional 25,481 shares during the last quarter. Provident Trust Co. increased its position in shares of T. Rowe Price Group by 0.3% in the third quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager’s stock valued at $261,185,000 after buying an additional 7,905 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of T. Rowe Price Group by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 1,861,454 shares of the asset manager’s stock worth $202,768,000 after buying an additional 47,998 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of T. Rowe Price Group by 4.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,375,306 shares of the asset manager’s stock worth $149,812,000 after buying an additional 53,997 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TROW shares. Evercore ISI increased their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. The Goldman Sachs Group cut their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday. TD Cowen dropped their target price on 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, Keefe, Bruyette & Woods cut their price target on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $115.82.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the sale, the vice president now owns 119,577 shares of the company’s stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of TROW opened at $113.21 on Tuesday. The stock has a market capitalization of $25.15 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.67 and a beta of 1.43. T. Rowe Price Group, Inc. has a 12-month low of $100.49 and a 12-month high of $125.81. The firm’s 50 day moving average is $117.71 and its 200-day moving average is $112.82.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.21. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.17 EPS. As a group, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.45 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a dividend of $1.24 per share. The ex-dividend date was Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.38%. T. Rowe Price Group’s dividend payout ratio is 54.27%.

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.