49,420 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 49,420 shares of the asset manager's stock, valued at approximately $5,589,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Assetmark Inc. increased its holdings in T. Rowe Price Group by 2.2% in the 4th quarter. Assetmark Inc. now owns 491,726 shares of the asset manager's stock valued at $55,609,000 after purchasing an additional 10,488 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in T. Rowe Price Group by 9.8% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 11,432 shares of the asset manager's stock valued at $1,302,000 after buying an additional 1,016 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in T. Rowe Price Group by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager's stock valued at $812,798,000 after buying an additional 346,369 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in T. Rowe Price Group by 3.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 18,138 shares of the asset manager's stock valued at $2,051,000 after buying an additional 545 shares during the last quarter. Finally, Mission Wealth Management LP purchased a new position in T. Rowe Price Group in the 4th quarter valued at about $821,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

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T. Rowe Price Group Price Performance

Shares of NASDAQ TROW traded down $1.05 during mid-day trading on Thursday, reaching $93.00. 1,399,647 shares of the company traded hands, compared to its average volume of 1,278,309. T. Rowe Price Group, Inc. has a fifty-two week low of $91.37 and a fifty-two week high of $125.81. The firm has a market cap of $20.70 billion, a PE ratio of 10.15, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. The stock has a fifty day simple moving average of $107.10 and a 200-day simple moving average of $111.36.

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 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 in the prior year, the firm earned $1.72 EPS. As a group, 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 firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 5.46%. 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 dividend payout ratio (DPR) is presently 55.46%.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group 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 transaction, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.00% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. StockNews.com cut shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Sunday, February 2nd. Morgan Stanley decreased 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 report on Monday, February 24th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Wells Fargo & Company reduced their price target on shares of T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 6th. Finally, Barclays reduced their price target 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. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $114.09.

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.