Choate Investment Advisors Buys New Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Choate Investment Advisors bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 2,556 shares of the asset manager’s stock, valued at approximately $289,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Addison Advisors LLC boosted its holdings in T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 93 shares during the period. Y.D. More Investments Ltd boosted its holdings in T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $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 4th quarter valued at $32,000. Advantage Trust Co boosted its holdings in T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 100 shares during the period. Finally, True Wealth Design LLC bought a new stake in T. Rowe Price Group in the 3rd quarter valued at $37,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Up 1.4 %

Shares of TROW stock opened at $94.31 on Tuesday. T. Rowe Price Group, Inc. has a 12-month low of $91.37 and a 12-month high of $125.81. The company has a market capitalization of $21.00 billion, a P/E ratio of 10.30, a P/E/G ratio of 2.86 and a beta of 1.46. The firm has a 50-day moving average price of $107.87 and a 200 day moving average price of $111.57.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly 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 quarter in the prior year, the company earned $1.72 EPS. As a group, research 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 5.39%. The ex-dividend date is Friday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.46%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TROW. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Barclays reduced their price objective 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. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Morgan Stanley reduced their price objective on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Finally, Wells Fargo & Company reduced their price objective on shares of 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. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $114.09.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the firm’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 owns 36,800 shares in the company, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Company 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.