HighTower Advisors LLC Raises Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

HighTower Advisors LLC increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 13.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 150,550 shares of the asset manager’s stock after purchasing an additional 18,212 shares during the period. HighTower Advisors LLC’s holdings in T. Rowe Price Group were worth $17,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. MCF Advisors LLC raised its holdings in shares of T. Rowe Price Group by 1.5% during the fourth quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock worth $704,000 after purchasing an additional 93 shares during the last quarter. Addison Advisors LLC increased its holdings in T. Rowe Price Group by 67.4% in the fourth 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. Strategy Asset Managers LLC increased its holdings in T. Rowe Price Group by 4.6% in the third quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock valued at $236,000 after buying an additional 95 shares in the last quarter. Brooklyn Investment Group increased its holdings in T. Rowe Price Group by 24.6% in the fourth quarter. Brooklyn Investment Group now owns 497 shares of the asset manager’s stock valued at $56,000 after buying an additional 98 shares in the last quarter. Finally, Advantage Trust Co increased its holdings in 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 buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 1.1 %

TROW opened at $93.04 on Friday. The firm has a market capitalization of $20.71 billion, a PE ratio of 10.16, a PEG ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a twelve month low of $91.37 and a twelve month high of $125.81. The firm’s 50-day moving average price is $108.27 and its 200 day moving average price is $111.62.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same quarter last year, the business earned $1.72 EPS. As a group, analysts predict 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 company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 5.46%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. T. Rowe Price Group’s payout ratio is presently 55.46%.

Analyst Ratings Changes

A number of research firms have weighed in on TROW. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Barclays cut their price objective on shares of 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. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Wells Fargo & Company cut their price objective on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Finally, Morgan Stanley cut their target price on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and an average price target of $114.09.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the transaction, the vice president now directly owns 36,800 shares in the company, valued at $4,021,136. The trade was a 10.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.00% of the stock is currently owned by company insiders.

About T. Rowe Price Group

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.