Abacus FCF Advisors LLC Has $3.82 Million Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Abacus FCF Advisors LLC increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 46.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,731 shares of the asset manager's stock after purchasing an additional 10,664 shares during the quarter. Abacus FCF Advisors LLC's holdings in T. Rowe Price Group were worth $3,815,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in TROW. Addison Advisors LLC grew its holdings 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 valued at $26,000 after purchasing an additional 93 shares during the last quarter. Curio Wealth LLC acquired a new position in T. Rowe Price Group during the 4th quarter valued at approximately $27,000. Y.D. More Investments Ltd grew its stake in T. Rowe Price Group by 124.0% during the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock worth $32,000 after buying an additional 155 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in T. Rowe Price Group in the fourth quarter worth $32,000. Finally, Advantage Trust Co lifted its stake in T. Rowe Price Group by 48.8% in the fourth 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. Institutional investors and hedge funds own 73.39% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on TROW shares. Bank of America lowered their price target on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a research report on Thursday, April 3rd. Evercore ISI decreased their target price on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a research report on Friday. The Goldman Sachs Group cut their price target on T. Rowe Price Group from $103.00 to $89.00 and set a "sell" rating on the stock in a report on Thursday, April 3rd. StockNews.com downgraded T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Sunday, February 2nd. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and issued a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research 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. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $101.36.

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Insider Buying and Selling

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 value of $362,119.80. Following the transaction, the director now owns 42,979 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. 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 owns 36,800 shares of the company's stock, valued at $4,021,136. This trade represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

T. Rowe Price Group Stock Up 3.3 %

NASDAQ TROW traded up $2.80 on Friday, reaching $88.74. 2,952,480 shares of the stock traded hands, compared to its average volume of 1,437,661. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The firm's fifty day simple moving average is $97.98 and its 200 day simple moving average is $109.16. The company has a market cap of $19.72 billion, a price-to-earnings ratio of 9.69, a P/E/G ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results 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 period in the prior year, the firm posted $1.72 EPS. As a group, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $1.27 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $5.08 annualized dividend and a dividend 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 payout ratio is currently 55.46%.

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.