Tower Research Capital LLC TRC Buys 14,214 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Tower Research Capital LLC TRC grew its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 333.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,471 shares of the asset manager's stock after acquiring an additional 14,214 shares during the quarter. Tower Research Capital LLC TRC's holdings in T. Rowe Price Group were worth $2,089,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in T. Rowe Price Group in the fourth quarter worth $117,704,000. Marshall Wace LLP bought a new position in shares of T. Rowe Price Group during the 4th quarter valued at approximately $63,284,000. Amundi increased its stake in T. Rowe Price Group by 30.1% in the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager's stock worth $194,064,000 after buying an additional 397,278 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of T. Rowe Price Group by 5.1% during the fourth 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. Finally, L.K. Benson & Company P.C. purchased a new stake in T. Rowe Price Group in the 4th quarter worth $36,643,000. Institutional investors own 73.39% of the company's stock.

Analyst Upgrades and Downgrades

TROW has been the topic of a number of analyst reports. 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. The Goldman Sachs Group reduced 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 note on Monday, April 14th. Wells Fargo & Company lowered their target price on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Bank of America dropped their target price on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a research report on Thursday, April 3rd. Finally, Barclays lowered their target price 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, April 16th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $96.00.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the company's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the transaction, the director now directly owns 42,979 shares in the company, valued at approximately $3,935,157.24. This represents a 8.43 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.

T. Rowe Price Group Stock Down 1.2 %

NASDAQ TROW traded down $1.08 during trading hours on Friday, hitting $88.44. The company had a trading volume of 1,575,567 shares, compared to its average volume of 1,461,281. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The firm has a market cap of $19.66 billion, a P/E ratio of 9.66, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50. The business has a fifty day simple moving average of $93.61 and a 200-day simple moving average of $107.71.

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 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 in the prior year, the company posted $1.72 earnings per share. Equities analysts forecast 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 disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $1.27 per share. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from T. Rowe Price Group's previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a yield of 5.74%. T. Rowe Price Group's payout ratio is presently 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.