Peak Retirement Planning Inc. Invests $1.22 Million in T. Rowe Price Group, Inc. (NASDAQ:TROW)

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

A number of other hedge funds have also recently added to or reduced their stakes in TROW. Norges Bank acquired a new position in T. Rowe Price Group in the fourth quarter worth $117,704,000. Marshall Wace LLP bought a new stake in T. Rowe Price Group in the fourth quarter valued at $63,284,000. Fayez Sarofim & Co lifted its stake in T. Rowe Price Group by 7.6% in the fourth quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager’s stock valued at $684,474,000 after buying an additional 425,142 shares during the last quarter. Amundi lifted its stake in T. Rowe Price Group by 30.1% in the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock valued at $194,064,000 after buying an additional 397,278 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in T. Rowe Price Group by 28.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,762,910 shares of the asset manager’s stock valued at $199,367,000 after buying an additional 387,604 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TROW shares. Wall Street Zen cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. The Goldman Sachs Group cut 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. Barclays raised their target price on T. Rowe Price Group from $85.00 to $90.00 and gave the company an “underweight” rating in a research note on Monday, May 5th. Bank of America cut their target price 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. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Four investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to MarketBeat.com, T. Rowe Price Group has a consensus rating of “Hold” and an average target price of $94.09.

Insider Activity at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction dated 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 directly owns 42,979 shares of the company’s stock, valued at $3,935,157.24. The trade was a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the transaction, the insider now directly owns 13,611 shares in the company, valued at approximately $1,319,994.78. The trade was a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Down 1.5%

Shares of NASDAQ TROW opened at $93.02 on Friday. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The firm’s 50-day simple moving average is $90.68 and its 200 day simple moving average is $105.22. The stock has a market cap of $20.49 billion, a P/E ratio of 10.16, a P/E/G ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last issued 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 net margin of 29.61% and a return on equity of 20.83%. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the business earned $2.38 earnings per share. The company’s revenue was up .8% on a year-over-year basis. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.46%. The ex-dividend date is Friday, June 13th. T. Rowe Price Group’s dividend payout ratio is currently 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.