SlateStone Wealth LLC Boosts Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

SlateStone Wealth LLC boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,685 shares of the asset manager’s stock after purchasing an additional 250 shares during the period. SlateStone Wealth LLC’s holdings in T. Rowe Price Group were worth $869,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Addison Advisors LLC boosted its position 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 worth $26,000 after purchasing an additional 93 shares during the last quarter. Y.D. More Investments Ltd boosted 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 position in shares of T. Rowe Price Group during the 4th quarter valued at $32,000. Advantage Trust Co lifted its position in shares of T. Rowe Price Group by 48.8% during the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after buying an additional 100 shares during the last quarter. Finally, True Wealth Design LLC purchased a new position in shares of T. Rowe Price Group during the 3rd quarter valued at $37,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $93.04 on Monday. The firm has a 50-day simple moving average of $108.27 and a two-hundred day simple moving average of $111.64. The firm has a market cap of $20.71 billion, a P/E ratio of 10.16, a P/E/G ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a fifty-two week low of $91.37 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results 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 return on equity of 20.83% and a net margin of 29.61%. During the same quarter in the prior year, the company posted $1.72 earnings per share. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 5.46%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date is Friday, March 14th. T. Rowe Price Group’s payout ratio is presently 55.46%.

Insider Activity

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction that occurred 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 directly owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Barclays dropped their price target on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set 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. Wells Fargo & Company dropped their price objective on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Finally, Morgan Stanley dropped their price objective on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat.com, T. Rowe Price Group presently has an average rating of “Hold” and an average target price of $114.09.

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.