Advisors Asset Management Inc. Buys 5,110 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Advisors Asset Management Inc. increased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,928 shares of the asset manager’s stock after buying an additional 5,110 shares during the quarter. Advisors Asset Management Inc.’s holdings in T. Rowe Price Group were worth $8,134,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TROW. Glenview Trust co raised 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 valued at $488,000 after buying 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 purchasing an additional 93 shares during the last quarter. Addison Advisors LLC boosted its position in 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 during the period. Strategy Asset Managers LLC boosted its position in T. Rowe Price Group by 4.6% during the third quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock worth $236,000 after purchasing an additional 95 shares during the period. Finally, Brooklyn Investment Group increased its holdings in shares of 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 purchasing an additional 98 shares during the last quarter. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Stock Performance

TROW opened at $93.60 on Wednesday. T. Rowe Price Group, Inc. has a 52-week low of $91.37 and a 52-week high of $125.81. The firm has a market cap of $20.84 billion, a P/E ratio of 10.22, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. The business’s fifty day moving average is $107.48 and its 200-day moving average is $111.48.

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 (EPS) 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 company earned $1.72 EPS. On average, research 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 disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 5.43%. This is a boost 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 dividend payout ratio (DPR) is 55.46%.

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 firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the sale, the vice president now owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TROW. 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. Keefe, Bruyette & Woods restated a “market perform” rating and set a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Barclays decreased their target price 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 report on Sunday, February 2nd. Finally, Wells Fargo & Company decreased 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. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $114.09.

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.