12,473 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Bought by Nebula Research & Development LLC

Nebula Research & Development LLC acquired 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 SEC. The fund acquired 12,473 shares of the asset manager's stock, valued at approximately $1,411,000.

Other hedge funds have also recently modified their holdings of the company. Addison Advisors LLC grew its position in shares of T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock valued at $26,000 after acquiring an additional 93 shares during the period. Curio Wealth LLC bought a new stake in shares of T. Rowe Price Group during the 4th quarter valued at $27,000. Y.D. More Investments Ltd grew its position in shares of 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 valued at $32,000 after acquiring an additional 155 shares during the period. Stonebridge Financial Group LLC bought a new stake in shares of T. Rowe Price Group during the 4th quarter valued at $32,000. 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 valued at $34,000 after acquiring an additional 100 shares during the period. Institutional investors own 73.39% of the company's stock.

Insider Activity

In related news, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the sale, the director now directly owns 42,979 shares of the company's stock, valued at $3,935,157.24. This represents a 8.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Arif Husain sold 4,112 shares of the firm's stock in a transaction on 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 owns 36,800 shares in the company, valued at $4,021,136. The trade was a 10.05 % 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TROW shares. The Goldman Sachs Group cut their price objective on shares of T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a research report on Monday, April 14th. Evercore ISI dropped 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 report on Friday, April 11th. Barclays dropped their target price on shares of T. Rowe Price Group from $105.00 to $85.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. Morgan Stanley dropped their target price on shares of T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating for the company in a report on Monday, February 24th. Finally, Citigroup dropped their target price on shares of T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of "Hold" and an average target price of $96.00.

T. Rowe Price Group Stock Performance

Shares of TROW traded up $0.29 during midday trading on Monday, hitting $88.73. 1,251,198 shares of the company traded hands, compared to its average volume of 1,454,516. The firm has a 50 day moving average of $93.22 and a 200-day moving average of $107.56. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The stock has a market cap of $19.72 billion, a price-to-earnings ratio of 9.69, a PEG 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 (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 quarter in the previous year, the firm earned $1.72 EPS. Sell-side analysts predict 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 firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 5.73%. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.24. The ex-dividend date was Friday, March 14th. 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.