MSH Capital Advisors LLC Makes New Investment in T. Rowe Price Group, Inc. (NASDAQ:TROW)

MSH Capital Advisors LLC bought a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,997 shares of the asset manager’s stock, valued at approximately $2,261,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TROW. Addison Advisors LLC lifted its position in shares of T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after purchasing an additional 93 shares in the last quarter. Curio Wealth LLC acquired a new stake in shares of T. Rowe Price Group during the 4th quarter worth approximately $27,000. Y.D. More Investments Ltd grew its position in shares of T. Rowe Price Group by 124.0% during the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after acquiring an additional 155 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of T. Rowe Price Group during the fourth quarter valued at approximately $32,000. Finally, Advantage Trust Co grew its stake in shares of T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction on Monday, March 31st. The shares were 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 of the company’s stock, valued at $3,935,157.24. This represents a 8.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the sale, the vice president now owns 36,800 shares in the company, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on TROW. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. TD Cowen cut their price target on shares of T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, April 9th. Morgan Stanley decreased their price objective 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. Citigroup dropped their target price on shares of T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat.com, T. Rowe Price Group has a consensus rating of “Hold” and a consensus price target of $100.09.

T. Rowe Price Group Stock Down 1.9 %

NASDAQ TROW opened at $87.58 on Wednesday. The stock has a fifty day simple moving average of $97.08 and a 200 day simple moving average of $108.87. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The company has a market capitalization of $19.46 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share 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 business posted $1.72 EPS. Research analysts expect 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 declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date of this dividend was Friday, March 14th. 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 currently 55.46%.

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.