Amalgamated Bank Grows Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Amalgamated Bank lifted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.9% in the 4th quarter, HoldingsChannel reports. The firm owned 44,661 shares of the asset manager’s stock after buying an additional 391 shares during the quarter. Amalgamated Bank’s holdings in T. Rowe Price Group were worth $5,051,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of TROW. Addison Advisors LLC grew its holdings in T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 93 shares during the period. Y.D. More Investments Ltd lifted its position in shares of T. Rowe Price Group by 124.0% during the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after buying an additional 155 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in shares of T. Rowe Price Group during the 4th quarter worth $32,000. Advantage Trust Co increased its holdings in T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after acquiring an additional 100 shares during the last quarter. Finally, True Wealth Design LLC purchased a new stake in T. Rowe Price Group in the 3rd quarter worth about $37,000. Institutional investors own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. TD Cowen cut their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Evercore ISI raised their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Barclays cut their price target on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $114.09.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $103.73 on Friday. T. Rowe Price Group, Inc. has a 52-week low of $100.49 and a 52-week high of $125.81. The stock has a fifty day moving average of $111.96 and a 200 day moving average of $112.32. The firm has a market capitalization of $23.09 billion, a price-to-earnings ratio of 11.32, a P/E/G ratio of 2.86 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same period in the prior year, the company posted $1.72 EPS. Equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $1.27 dividend. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date is Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.90%. T. Rowe Price Group’s dividend payout ratio is presently 55.46%.

Insider Activity

In related news, VP Arif Husain sold 4,112 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the transaction, the vice president now owns 36,800 shares of the company’s stock, valued at $4,021,136. This represents a 10.05 % 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, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction dated 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 in the company, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

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.