T. Rowe Price Group, Inc. $TROW Position Raised by HighTower Advisors LLC

HighTower Advisors LLC grew its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 13.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 220,153 shares of the asset manager’s stock after acquiring an additional 25,253 shares during the quarter. HighTower Advisors LLC’s holdings in T. Rowe Price Group were worth $22,596,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of TROW. TD Waterhouse Canada Inc. boosted its stake in T. Rowe Price Group by 66.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 100 shares during the period. Essex Bank raised its holdings in shares of T. Rowe Price Group by 3.6% during the third quarter. Essex Bank now owns 2,914 shares of the asset manager’s stock valued at $299,000 after buying an additional 100 shares during the last quarter. PFG Investments LLC boosted its position in shares of T. Rowe Price Group by 4.8% during the third quarter. PFG Investments LLC now owns 2,249 shares of the asset manager’s stock worth $231,000 after buying an additional 102 shares during the period. Beacon Investment Advisors LLC grew its holdings in T. Rowe Price Group by 1.2% in the 2nd quarter. Beacon Investment Advisors LLC now owns 10,256 shares of the asset manager’s stock worth $986,000 after buying an additional 120 shares in the last quarter. Finally, United Asset Strategies Inc. grew its holdings in T. Rowe Price Group by 0.8% in the 3rd quarter. United Asset Strategies Inc. now owns 16,994 shares of the asset manager’s stock worth $1,744,000 after buying an additional 135 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TROW shares. Zacks Research lowered T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Barclays set a $94.00 price objective on shares of T. Rowe Price Group in a research note on Thursday, February 5th. JPMorgan Chase & Co. decreased their target price on shares of T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating for the company in a research report on Thursday, February 5th. Morgan Stanley lowered their target price on shares of T. Rowe Price Group from $123.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 10th. Finally, Evercore reduced their price target on shares of T. Rowe Price Group from $116.00 to $106.00 and set an “in-line” rating for the company in a research note on Thursday, February 5th. Twelve equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, T. Rowe Price Group has an average rating of “Reduce” and an average target price of $102.23.

T. Rowe Price Group Trading Up 1.2%

Shares of NASDAQ TROW opened at $94.93 on Thursday. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $118.22. The firm has a 50-day moving average of $102.78 and a two-hundred day moving average of $103.84. The company has a market capitalization of $20.70 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 4.84 and a beta of 1.53.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Wednesday, February 4th. The asset manager reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.47 by ($0.03). The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.12 EPS. As a group, research 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 business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.5%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Monday, March 16th. T. Rowe Price Group’s payout ratio is presently 54.92%.

Insider Activity

In related news, VP Arif Husain sold 4,260 shares of the stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total value of $434,349.60. Following the completion of the transaction, the vice president owned 47,102 shares in the company, valued at $4,802,519.92. This trade represents a 8.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by company insiders.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.