HighPoint Advisor Group LLC Increases Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

HighPoint Advisor Group LLC lifted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 18.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,590 shares of the asset manager’s stock after buying an additional 1,043 shares during the quarter. HighPoint Advisor Group LLC’s holdings in T. Rowe Price Group were worth $719,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Glenview Trust co increased its stake in T. Rowe Price Group by 2.2% in the fourth quarter. Glenview Trust co now owns 4,318 shares of the asset manager’s stock worth $488,000 after purchasing an additional 92 shares during the period. MCF Advisors LLC lifted its holdings in T. Rowe Price Group by 1.5% during the 4th quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock valued at $704,000 after buying an additional 93 shares in the last quarter. Addison Advisors LLC boosted its position in T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after buying an additional 93 shares during the period. Brooklyn Investment Group grew its stake in T. Rowe Price Group by 24.6% in the 4th quarter. Brooklyn Investment Group now owns 497 shares of the asset manager’s stock worth $56,000 after acquiring an additional 98 shares in the last quarter. Finally, Advantage Trust Co increased its position in shares of T. Rowe Price Group by 48.8% during the fourth 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 period. 73.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on TROW shares. Keefe, Bruyette & Woods reissued 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 research note on Thursday, February 6th. Wells Fargo & Company cut their price target on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Citigroup dropped their target price on shares of T. Rowe Price Group from $120.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Morgan Stanley reduced their price target on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group has a consensus rating of “Hold” and an average target price of $111.82.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $92.27 on Wednesday. The stock’s fifty day moving average price is $103.75 and its 200 day moving average price is $110.74. T. Rowe Price Group, Inc. has a 1-year low of $89.70 and a 1-year high of $125.81. The company has a market cap of $20.51 billion, a price-to-earnings ratio of 10.07, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter last year, the company posted $1.72 EPS. As a group, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $1.27 per share. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a dividend yield of 5.51%. The ex-dividend date was Friday, March 14th. T. Rowe Price Group’s payout ratio is presently 55.46%.

Insider Activity

In other news, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the sale, the vice president now directly owns 36,800 shares of the company’s stock, valued at $4,021,136. This represents a 10.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction 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 completion of the sale, the director now owns 42,979 shares in the company, valued at $3,935,157.24. The trade was a 8.43 % 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 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.