T. Rowe Price Group, Inc. has become an increasingly popular investment opportunity among financial firms as they try to diversify and maximize their asset portfolios. Among these recently interested parties is Joel Isaacson & Co. LLC, who revealed in its most recent Form 13F filing with the Securities and Exchange Commission that it had acquired a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the fourth quarter of 2020. The financial firm acquired 1,860 shares of the asset manager’s stock which was valued at approximately $203,000 – this new acquisition boosts Joel Isaacson & Co.’s portfolio diversity.
Although this recent purchasing activity indicates confidence in T. Rowe Price Group’s future growth and profitability prospects, there have also been high profile sell-offs from company insiders such as Vice President Andrew Justin Mackenzi Thomson and Vice President Andrew C. Mccormick who sold 11,969 shares on February 21st and 14,154 shares on February 10th respectively. This insider trading information may suggest internal uncertainty about the direction of the company amongst those close to its leadership team.
Regardless, analysts are still keeping a close eye on TROW’s performance metrics for a different set of reasons: the firm’s steady performance throughout the COVID-19 pandemic has been nothing short of impressive. In contrast with many other companies that struggled through pandemic closures and market volatility last year, T.Rowe showed resilience by closing out last year with over $1 trillion in assets under management despite seeing massive outflows earlier in the first half of 2020.
TROW stock opened at $109.22 on Friday; however it’s noteworthy that this opening price is relatively low when accounting for other market positioning trends from similar firms within asset management industries.
It remains to be seen whether T.Rowe Price Group will continue having robust growth during Q2 or if any current challenges being experienced within the company will impact future performance. Despite the noted insider sells, financial analysts still feel optimistic about TROW’s future with many commenting on the potential of this security to achieve new earnings highs in the quarters ahead. Given these recent developments within those involved with T.Rowe and its executive leadership team, investors should continue to keep an eye on this security over coming weeks as market volatility could heavily influence the overall stability of asset investments made into it.
Recent Stakes and Target Price Cuts: An Update on T. Rowe Price Group Inc.
T. Rowe Price Group Inc., a leading investment management firm, has been in the spotlight recently as several institutional investors and hedge funds have modified their stakes in the company. According to recent reports, Zullo Investment Group Inc. boosted its shares in T. Rowe Price Group by 164.6% in Q3 2020, while Oakworth Capital Inc. and Eisler Capital UK Ltd. purchased new stakes worth $28,000 and $29,000 respectively during the same quarter. Asset Dedication LLC also increased its stake by an impressive 173.8% during Q4 2020.
Despite these developments, several equities analysts have issued reports on the company, with many cutting target prices due to fluctuations in T. Rowe Price Group’s stock performance over the past few months. In particular, BMO Capital Markets and Morgan Stanley cut target prices from $105 to $90 and $108 to $102 respectively, while Bank of America decreased its target price from $78 to $72.
In other news, two company VPs recently sold shares of T. Rowe Price Group for significant sums totaling over $1 million each in late February of this year.
On a more positive note for investors, T. Rowe Price Group announced an increase in their quarterly dividend payment from $1.20 to $1.22 per share at the end of March 2021.
Overall, despite recent fluctuations experienced by T.Rowe Price Group’s finances and stocks after being heavily impacted by Covid-19 pandemic restrictions last year due to slowdowns within global finance markets; it remains a strong contender for investment with potential future upside expected like many of its competitors within the financial sector as better outlooks are seen globally post-pandemic economic recovery efforts continue worldwide .