Townsquare Capital LLC Buys 7,164 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Townsquare Capital LLC boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 148.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,003 shares of the asset manager's stock after acquiring an additional 7,164 shares during the period. Townsquare Capital LLC's holdings in T. Rowe Price Group were worth $1,357,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Sterling Capital Management LLC lifted its holdings in T. Rowe Price Group by 55.5% during the fourth quarter. Sterling Capital Management LLC now owns 13,002 shares of the asset manager's stock valued at $1,470,000 after purchasing an additional 4,638 shares during the last quarter. Quinn Opportunity Partners LLC purchased a new stake in shares of T. Rowe Price Group during the 4th quarter valued at approximately $6,774,000. Heritage Trust Co bought a new position in T. Rowe Price Group in the 4th quarter worth approximately $465,000. Covestor Ltd grew its stake in T. Rowe Price Group by 23.2% in the 4th quarter. Covestor Ltd now owns 1,930 shares of the asset manager's stock valued at $218,000 after buying an additional 364 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in T. Rowe Price Group by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 96,465 shares of the asset manager's stock valued at $10,909,000 after acquiring an additional 610 shares during the period. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TROW shares. StockNews.com lowered T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Sunday, February 2nd. Citigroup cut 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. TD Cowen decreased their price target on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. Bank of America cut their price objective on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a research report on Thursday, April 3rd. Finally, Evercore ISI decreased 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 report on Friday, April 11th. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $96.00.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the company's 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 completion of the sale, the vice president now directly owns 36,800 shares in the company, valued at $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert F. Maclellan sold 3,955 shares of the firm's 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 transaction, the director now directly owns 42,979 shares in the company, valued at $3,935,157.24. This trade represents a 8.43 % 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 Performance

T. Rowe Price Group stock opened at $86.11 on Friday. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The stock has a market cap 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 firm's fifty day moving average price is $96.11 and its 200-day moving average price is $108.55.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly 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 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 EPS. On average, analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $1.27 dividend. 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. This represents a $5.08 dividend on an annualized basis and a yield of 5.90%. 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.

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