Checchi Capital Advisers LLC Purchases 241 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Checchi Capital Advisers LLC increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 11.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,419 shares of the asset manager’s stock after buying an additional 241 shares during the period. Checchi Capital Advisers LLC’s holdings in T. Rowe Price Group were worth $274,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Addison Advisors LLC grew its holdings 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 worth $26,000 after acquiring an additional 93 shares during the period. Y.D. More Investments Ltd grew its stake in T. Rowe Price Group by 124.0% during the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after purchasing an additional 155 shares during the period. Stonebridge Financial Group LLC bought a new stake in T. Rowe Price Group in the fourth quarter worth approximately $32,000. Advantage Trust Co lifted its stake in T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after buying an additional 100 shares during the period. Finally, True Wealth Design LLC bought a new position in shares of T. Rowe Price Group during the 3rd quarter worth approximately $37,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In other news, VP Arif Husain sold 4,112 shares of the firm’s 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 completion of the sale, the vice president now owns 36,800 shares in the company, valued at $4,021,136. This trade represents a 10.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’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 value of $499,197.45. Following the completion of the transaction, the vice president now owns 119,577 shares in the company, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Trading Down 1.0 %

Shares of NASDAQ:TROW opened at $103.73 on Friday. T. Rowe Price Group, Inc. has a 1-year low of $100.49 and a 1-year high of $125.81. The stock has a market cap of $23.09 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 2.86 and a beta of 1.44. The stock’s fifty day simple moving average is $111.96 and its two-hundred day simple moving average is $112.32.

T. Rowe Price Group (NASDAQ:TROW) 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 quarter in the prior year, the business earned $1.72 EPS. On average, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share 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. Stockholders of record on Friday, March 14th will be issued a $1.27 dividend. The ex-dividend date of this dividend 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 annualized dividend and a dividend yield of 4.90%. T. Rowe Price Group’s dividend payout ratio is currently 55.46%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Wells Fargo & Company dropped their price objective on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. JPMorgan Chase & Co. reduced their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Evercore ISI upped their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Finally, Barclays reduced their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.