20,152 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Acquired by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. acquired a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the fourth quarter, Holdings Channel.com reports. The fund acquired 20,152 shares of the asset manager’s stock, valued at approximately $2,279,000.

A number of other hedge funds have also modified their holdings of the stock. Addison Advisors LLC increased its stake 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 worth $26,000 after purchasing an additional 93 shares in the last quarter. Curio Wealth LLC acquired a new position in shares of T. Rowe Price Group in the fourth quarter worth about $27,000. Y.D. More Investments Ltd boosted its holdings in shares of T. Rowe Price Group by 124.0% in the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after buying an additional 155 shares during the period. Stonebridge Financial Group LLC purchased a new position in shares of T. Rowe Price Group in the fourth quarter worth approximately $32,000. Finally, Advantage Trust Co raised its holdings in shares of T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 100 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $93.04 on Friday. The firm has a market cap of $20.71 billion, a PE ratio of 10.16, a PEG ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a twelve month low of $91.37 and a twelve month high of $125.81. The firm’s 50 day moving average price is $106.71 and its 200 day moving average price is $111.23.

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 company posted $1.72 EPS. On average, sell-side analysts anticipate 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 business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 5.46%. The ex-dividend date is Friday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio is 55.46%.

Insider Activity

In related news, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was 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 in the company, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented 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. Barclays decreased their target price on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Wells Fargo & Company reduced their price objective on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Finally, Morgan Stanley lowered their target price on 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. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average 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.