MSH Capital Advisors LLC Purchases New Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

MSH Capital Advisors LLC bought a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,997 shares of the asset manager's stock, valued at approximately $2,261,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Glenview Trust co lifted its holdings 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 boosted its position in shares of 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 in the last quarter. Addison Advisors LLC increased its holdings in T. Rowe Price Group by 67.4% in 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 in the last quarter. Brooklyn Investment Group boosted its holdings in shares of T. Rowe Price Group by 24.6% during the 4th quarter. Brooklyn Investment Group now owns 497 shares of the asset manager's stock worth $56,000 after buying an additional 98 shares in the last quarter. Finally, Advantage Trust Co grew its position in shares of T. Rowe Price Group by 48.8% during the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock worth $34,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 73.39% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. TD Cowen cut their target price on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Citigroup reduced their target price 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. Barclays dropped their price target on T. Rowe Price Group from $105.00 to $85.00 and set an "underweight" rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. reduced their price objective on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a research note on Wednesday. Finally, Morgan Stanley lowered their target price on 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. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $96.00.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,955 shares of the company's stock in a transaction on Monday, March 31st. The shares were 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 document filed with the SEC, which can be accessed through the SEC website. Also, VP Arif Husain sold 4,112 shares of the business's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the transaction, the vice president now directly owns 36,800 shares of the company's stock, valued at $4,021,136. The trade was a 10.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

T. Rowe Price Group Stock Performance

TROW stock traded up $0.74 during mid-day trading on Friday, hitting $86.11. The company had a trading volume of 4,903,880 shares, compared to its average volume of 1,453,090. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The stock's fifty day moving average price is $95.65 and its two-hundred day moving average price is $108.41. The firm has a market cap of $19.14 billion, a PE ratio of 9.40, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data 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 net margin of 29.61% and a return on equity of 20.83%. During the same period in the previous year, the company posted $1.72 earnings per share. Equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 5.90%. The ex-dividend date 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 (DPR) 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.