Norden Group LLC Takes Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Norden Group LLC purchased a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the fourth quarter, Holdings Channel.com reports. The fund purchased 3,591 shares of the asset manager’s stock, valued at approximately $406,000.

Other large investors also recently bought and sold shares of the company. Keystone Financial Services raised its stake in shares of T. Rowe Price Group by 5.1% in the third quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock worth $205,000 after purchasing an additional 92 shares during the last quarter. MCF Advisors LLC raised its position in T. Rowe Price Group by 1.5% during the 4th quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock worth $704,000 after buying an additional 93 shares during the last quarter. Addison Advisors LLC lifted its stake in T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 93 shares during the period. Strategy Asset Managers LLC boosted its holdings in shares of T. Rowe Price Group by 4.6% in the 3rd quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock valued at $236,000 after acquiring an additional 95 shares during the last quarter. Finally, Brooklyn Investment Group increased its stake in shares of T. Rowe Price Group by 24.6% in the fourth 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. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Down 3.6 %

TROW stock opened at $100.10 on Wednesday. The firm has a 50-day simple moving average of $111.17 and a 200-day simple moving average of $112.33. T. Rowe Price Group, Inc. has a 52 week low of $98.70 and a 52 week high of $125.81. The stock has a market capitalization of $22.29 billion, a P/E ratio of 10.93, a P/E/G ratio of 2.86 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm earned $1.72 earnings per share. On average, analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $1.27 per share. The ex-dividend date is Friday, March 14th. This is a positive change 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 5.07%. T. Rowe Price Group’s dividend payout ratio is 55.46%.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the sale, the vice president now owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the sale, the vice president now directly owns 36,800 shares of the company’s stock, valued at $4,021,136. The trade was 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.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TROW shares. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Wells Fargo & Company decreased their price target on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Morgan Stanley dropped their price objective on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. Barclays cut their target price on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Finally, Evercore ISI increased their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus target price of $114.09.

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.