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

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Barclays PLC grew its position in T. Rowe Price Group by 13.6% in the third quarter. Barclays PLC now owns 822,869 shares of the asset manager's stock worth $89,635,000 after acquiring an additional 98,448 shares in the last quarter. Park Avenue Securities LLC bought a new position in shares of T. Rowe Price Group during the 4th quarter valued at $474,000. HB Wealth Management LLC raised its position in T. Rowe Price Group by 12.4% in the 4th quarter. HB Wealth Management LLC now owns 2,691 shares of the asset manager's stock worth $304,000 after purchasing an additional 296 shares during the period. Koshinski Asset Management Inc. bought a new stake in T. Rowe Price Group in the fourth quarter worth $214,000. Finally, Janney Montgomery Scott LLC boosted its position in T. Rowe Price Group by 3.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 188,439 shares of the asset manager's stock valued at $21,311,000 after buying an additional 6,917 shares during the period. 73.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Robert F. Maclellan sold 3,955 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was 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 approximately $3,935,157.24. This represents a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 968 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the sale, the insider now directly owns 13,611 shares of the company's stock, valued at $1,319,994.78. This represents a 6.64% 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 corporate insiders.

Wall Street Analyst Weigh In

TROW has been the topic of several analyst reports. Wells Fargo & Company decreased their target price on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Cowen reissued a "hold" rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. TD Cowen reduced their price target on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. JPMorgan Chase & Co. dropped their price objective on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. Finally, The Goldman Sachs Group reduced their target price on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating on the stock in a research note on Monday, April 14th. Four equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to MarketBeat, T. Rowe Price Group currently has an average rating of "Hold" and a consensus price target of $94.09.

T. Rowe Price Group Price Performance

Shares of TROW stock traded up $0.20 on Thursday, hitting $94.20. 409,022 shares of the stock traded hands, compared to its average volume of 1,488,281. The firm has a 50 day simple moving average of $90.74 and a two-hundred day simple moving average of $104.70. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The firm has a market cap of $20.75 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, topping the consensus estimate of $2.13 by $0.10. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.80 billion. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The company's quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.38 earnings per share. Sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company 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 dividend of $1.27 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.08 annualized dividend and a yield of 5.39%. T. Rowe Price Group's payout ratio is 57.60%.

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.