Optimize Financial Inc Acquires Shares of 3,280 T. Rowe Price Group, Inc. (NASDAQ:TROW)

Optimize Financial Inc bought a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,280 shares of the asset manager’s stock, valued at approximately $371,000.

A number of other hedge funds also recently made changes to their positions in TROW. Addison Advisors LLC increased its stake 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 worth $26,000 after acquiring an additional 93 shares during the last quarter. Curio Wealth LLC purchased a new position in shares of T. Rowe Price Group in the fourth quarter valued at $27,000. Y.D. More Investments Ltd increased its position in T. Rowe Price Group by 124.0% in the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after purchasing an additional 155 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in T. Rowe Price Group during the fourth quarter valued at $32,000. Finally, Advantage Trust Co lifted its position in T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 100 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Trading Up 3.3 %

Shares of TROW opened at $88.74 on Friday. The firm has a fifty day moving average price of $97.98 and a 200-day moving average price of $109.16. The firm has a market capitalization of $19.72 billion, a P/E ratio of 9.69, a P/E/G ratio of 2.86 and a beta of 1.50. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released 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 in the previous year, the firm earned $1.72 earnings per share. Analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $1.27 dividend. The ex-dividend date was Friday, March 14th. This represents a $5.08 annualized dividend and a yield of 5.72%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio is 55.46%.

Analyst Ratings Changes

TROW has been the topic of a number of research reports. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Citigroup reduced their price objective on T. Rowe Price Group from $120.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, March 31st. Evercore ISI lowered their price objective on T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating for the company in a research note on Friday. Barclays dropped their target price 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, TD Cowen decreased their price target on T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday. Five analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $102.00.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the company’s 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. This represents a 8.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Arif Husain sold 4,112 shares of the 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 in the company, valued at $4,021,136. This trade represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

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.