Adage Capital Partners GP L.L.C. Buys 62,010 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Adage Capital Partners GP L.L.C. lifted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 71.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 148,840 shares of the asset manager's stock after acquiring an additional 62,010 shares during the period. Adage Capital Partners GP L.L.C. owned 0.07% of T. Rowe Price Group worth $16,832,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Nilsine Partners LLC raised its holdings in T. Rowe Price Group by 75.5% in the fourth quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager's stock worth $623,000 after purchasing an additional 2,370 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of T. Rowe Price Group by 2.8% during the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager's stock worth $30,062,000 after acquiring an additional 7,503 shares in the last quarter. Amundi lifted its position in T. Rowe Price Group by 30.1% during the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager's stock valued at $194,064,000 after acquiring an additional 397,278 shares during the last quarter. Schroder Investment Management Group lifted its position in T. Rowe Price Group by 49.4% during the fourth quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager's stock valued at $25,229,000 after acquiring an additional 73,307 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in T. Rowe Price Group by 5.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager's stock valued at $40,436,000 after acquiring an additional 20,062 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TROW has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their price objective on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. Citigroup decreased their price target on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Evercore ISI lowered their price target on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a report on Friday, April 11th. Wells Fargo & Company cut their price objective on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Finally, TD Cowen lowered their target price on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $96.00.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the company's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the transaction, the vice president now owns 36,800 shares in the company, valued at approximately $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the sale, the director now directly owns 42,979 shares in the company, valued at approximately $3,935,157.24. The trade was a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $88.44 on Friday. The stock has a market cap of $19.66 billion, a PE ratio of 9.66, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50. The firm has a fifty day moving average price of $93.61 and a 200 day moving average price of $107.71. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts' consensus estimates 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 previous year, the business posted $1.72 EPS. As a group, equities analysts expect 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 was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 5.74%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change 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.

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