Peak Retirement Planning Inc. Buys New Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Peak Retirement Planning Inc. bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,747 shares of the asset manager's stock, valued at approximately $1,215,000. T. Rowe Price Group accounts for about 0.8% of Peak Retirement Planning Inc.'s portfolio, making the stock its 27th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in TROW. Addison Advisors LLC lifted its holdings 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 buying an additional 93 shares in the last quarter. Curio Wealth LLC purchased a new position in shares of T. Rowe Price Group during the fourth quarter worth approximately $27,000. Y.D. More Investments Ltd raised its stake in shares of T. Rowe Price Group by 124.0% during the fourth 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 in the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of T. Rowe Price Group in the fourth quarter valued at approximately $32,000. Finally, Advantage Trust Co boosted its holdings in shares of T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock valued at $34,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 73.39% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on TROW shares. Evercore ISI reduced their price objective on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating on the stock in a report on Friday, April 11th. Bank of America cut their price target on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a research note on Thursday, April 3rd. Wall Street Zen lowered T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Sunday, February 2nd. TD Cowen decreased their price objective on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Finally, Morgan Stanley lifted their target price on T. Rowe Price Group from $94.00 to $95.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Four research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $94.09.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW traded up $2.54 during mid-day trading on Tuesday, hitting $95.56. The stock had a trading volume of 1,140,861 shares, compared to its average volume of 1,493,335. The firm has a market cap of $21.05 billion, a PE ratio of 10.43, a PEG ratio of 2.86 and a beta of 1.50. The company has a 50 day moving average of $90.66 and a two-hundred day moving average of $104.83. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, beating analysts' consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the company earned $2.38 earnings per share. The company's revenue was up .8% on a year-over-year basis. Equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a $1.27 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.08 annualized dividend and a yield of 5.32%. T. Rowe Price Group's dividend payout ratio (DPR) is presently 57.60%.

Insiders Place Their Bets

In other news, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the sale, the insider now owns 13,611 shares in the company, valued at $1,319,994.78. This represents a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the business's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the transaction, the director now owns 42,979 shares of the company's stock, valued at $3,935,157.24. This represents a 8.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

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.