3,280 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Bought by Optimize Financial Inc

Optimize Financial Inc purchased a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,280 shares of the asset manager's stock, valued at approximately $371,000.

Several other hedge funds and other institutional investors also recently modified their holdings of TROW. Glenview Trust co raised its position in shares of T. Rowe Price Group by 2.2% during the 4th 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 in the last quarter. MCF Advisors LLC increased its position in shares of T. Rowe Price Group by 1.5% in the fourth quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager's stock valued at $704,000 after acquiring an additional 93 shares during the period. Addison Advisors LLC boosted 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 valued at $26,000 after acquiring an additional 93 shares in the last quarter. Brooklyn Investment Group grew 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 acquiring an additional 98 shares during the period. Finally, Advantage Trust Co boosted its stake in T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock worth $34,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TROW shares. Barclays reduced their price target on shares of T. Rowe Price Group from $105.00 to $85.00 and set an "underweight" rating for the company in a research note on Wednesday. The Goldman Sachs Group decreased their price target on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a research note on Monday. 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 on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. lowered their price objective on shares of 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, StockNews.com downgraded T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Sunday, February 2nd. Four investment 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 has an average rating of "Hold" and an average price target of $96.00.

Insiders Place Their Bets

In related news, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction that occurred 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 completion of the transaction, the director now owns 42,979 shares in the company, valued at $3,935,157.24. The trade was a 8.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Arif Husain sold 4,112 shares of the stock in a transaction that occurred 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 sale, the vice president now directly 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 disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

T. Rowe Price Group Stock Up 0.9 %

Shares of T. Rowe Price Group stock traded up $0.74 during trading hours on Thursday, reaching $86.11. 4,903,880 shares of the company's stock were exchanged, compared to its average volume of 1,458,774. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The company has a market capitalization of $19.14 billion, a P/E ratio of 9.40, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50. The business has a fifty day moving average of $96.58 and a two-hundred day moving average of $108.71.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) 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 period last year, the company earned $1.72 earnings per share. As a group, research analysts predict 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 declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.90%. This is an increase from T. Rowe Price Group's previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Friday, March 14th. T. Rowe Price Group's payout ratio is 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.