Enhancing Capital LLC Buys New Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Enhancing Capital LLC purchased a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,650 shares of the asset manager's stock, valued at approximately $865,000.

A number of other large investors have also made changes to their positions in the company. Glenview Trust co raised its holdings in shares of T. Rowe Price Group by 2.2% during the fourth quarter. Glenview Trust co now owns 4,318 shares of the asset manager's stock valued at $488,000 after acquiring an additional 92 shares during the period. MCF Advisors LLC grew its position in T. Rowe Price Group by 1.5% during the fourth 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 in the last quarter. Addison Advisors LLC grew 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 valued at $26,000 after purchasing an additional 93 shares in the last quarter. Strategy Asset Managers LLC grew 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 valued at $236,000 after purchasing an additional 95 shares in the last quarter. Finally, Brooklyn Investment Group grew its position in T. Rowe Price Group by 24.6% during 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 in the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

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Wall Street Analyst Weigh In

A number of research analysts recently commented on TROW shares. Morgan Stanley lowered their price objective on shares of T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating on the stock in a research report on Monday, February 24th. Barclays lowered their price objective on shares of 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. Keefe, Bruyette & Woods reaffirmed 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. StockNews.com downgraded shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Sunday, February 2nd. Finally, Wells Fargo & Company decreased their target price on shares of T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $114.09.

Insider Transactions at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the company's 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 transaction, the vice president now directly owns 36,800 shares in the company, valued at $4,021,136. This represents a 10.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock traded down $0.21 on Friday, reaching $92.83. The stock had a trading volume of 5,915,239 shares, compared to its average volume of 1,292,680. The business's 50-day moving average price is $106.39 and its two-hundred day moving average price is $111.14. T. Rowe Price Group, Inc. has a fifty-two week low of $91.37 and a fifty-two week high of $125.81. The stock has a market cap of $20.67 billion, a P/E ratio of 10.13, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued 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 return on equity of 20.83% and a net margin of 29.61%. During the same quarter last year, the firm earned $1.72 earnings per share. As a group, equities analysts forecast 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. Stockholders 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 dividend yield of 5.47%. 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%.

T. Rowe Price Group 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.