HighPoint Advisor Group LLC Grows Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

HighPoint Advisor Group LLC grew its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 18.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,590 shares of the asset manager’s stock after purchasing an additional 1,043 shares during the quarter. HighPoint Advisor Group LLC’s holdings in T. Rowe Price Group were worth $719,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Nilsine Partners LLC raised its position in shares of T. Rowe Price Group by 75.5% in the fourth quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock worth $623,000 after acquiring an additional 2,370 shares during the period. Principal Financial Group Inc. raised its holdings in T. Rowe Price Group by 2.8% in the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock worth $30,062,000 after purchasing an additional 7,503 shares during the period. Amundi boosted its position in T. Rowe Price Group by 30.1% during the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock worth $194,064,000 after purchasing an additional 397,278 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in T. Rowe Price Group by 5.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager’s stock valued at $40,436,000 after purchasing an additional 20,062 shares during the period. Finally, Janus Henderson Group PLC increased its position in shares of T. Rowe Price Group by 3.8% in the third quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock valued at $3,267,000 after buying an additional 1,100 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Arif Husain sold 4,112 shares of the company’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 value of $449,318.24. Following the transaction, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. This represents a 10.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the sale, the director now owns 42,979 shares of the company’s stock, valued at $3,935,157.24. This trade represents a 8.43 % 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 Stock Up 0.4 %

Shares of TROW opened at $92.27 on Wednesday. T. Rowe Price Group, Inc. has a 52-week low of $89.70 and a 52-week high of $125.81. The stock has a fifty day simple moving average of $103.75 and a two-hundred day simple moving average of $110.74. The company has a market capitalization of $20.51 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data 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 return on equity of 20.83% and a net margin of 29.61%. During the same quarter last year, the firm earned $1.72 EPS. As a group, equities 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $1.27 dividend. The ex-dividend date was Friday, March 14th. This is a boost 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 5.51%. T. Rowe Price Group’s dividend payout ratio is currently 55.46%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TROW shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $113.00 target price (up previously from $111.00) on shares of T. Rowe Price Group in a research 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. Wells Fargo & Company dropped their target price on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Morgan Stanley reduced their price target on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. Finally, Citigroup lowered their price objective on T. Rowe Price Group from $120.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and a consensus target price of $111.82.

About T. Rowe Price Group

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.