HighTower Advisors LLC Purchases 18,212 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

HighTower Advisors LLC boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 13.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 150,550 shares of the asset manager's stock after acquiring an additional 18,212 shares during the period. HighTower Advisors LLC owned 0.07% of T. Rowe Price Group worth $17,026,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in TROW. Amundi raised its position in T. Rowe Price Group by 30.1% in the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager's stock worth $194,064,000 after acquiring an additional 397,278 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of T. Rowe Price Group by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager's stock worth $812,798,000 after purchasing an additional 346,369 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of T. Rowe Price Group by 382.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager's stock worth $43,373,000 after purchasing an additional 315,581 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of T. Rowe Price Group in the fourth quarter worth about $32,332,000. Finally, Provident Trust Co. increased its stake in shares of T. Rowe Price Group by 8.9% in the fourth quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager's stock worth $295,311,000 after purchasing an additional 213,566 shares in the last quarter. Institutional investors own 73.39% of the company's stock.

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T. Rowe Price Group Price Performance

TROW traded up $0.45 during trading on Wednesday, hitting $94.05. 1,695,003 shares of the stock traded hands, compared to its average volume of 1,275,261. The firm has a market capitalization of $20.94 billion, a P/E ratio of 10.27, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. The firm has a 50-day moving average of $107.48 and a 200 day moving average of $111.48. T. Rowe Price Group, Inc. has a 12-month low of $91.37 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results on Wednesday, February 5th. The asset manager reported $2.12 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 previous year, the firm earned $1.72 earnings per share. As a group, equities analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 5.40%. 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 currently 55.46%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Barclays reduced their target price on shares of T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating for the company in a research note on Thursday, February 6th. StockNews.com downgraded shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. Wells Fargo & Company reduced 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 note on Thursday, February 6th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Finally, Morgan Stanley reduced their price objective 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. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, the company currently has a consensus 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 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 directly owns 36,800 shares in the company, valued at $4,021,136. This trade represents a 10.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.00% of the company's stock.

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.