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

MSH Capital Advisors LLC bought a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 19,997 shares of the asset manager’s stock, valued at approximately $2,261,000.

Several other hedge funds also recently bought and sold shares of TROW. Nilsine Partners LLC increased its holdings in shares of T. Rowe Price Group by 75.5% in the 4th quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock valued at $623,000 after acquiring an additional 2,370 shares during the period. Principal Financial Group Inc. boosted its holdings in T. Rowe Price Group by 2.8% in the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock valued at $30,062,000 after purchasing an additional 7,503 shares during the last quarter. Amundi lifted its holdings in T. Rowe Price Group by 30.1% in the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock valued at $194,064,000 after acquiring an additional 397,278 shares during the period. Commonwealth Equity Services LLC grew its position in T. Rowe Price Group by 5.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager’s stock valued at $40,436,000 after buying an additional 20,062 shares during the period. Finally, Schroder Investment Management Group boosted its position in T. Rowe Price Group by 49.4% during the fourth quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager’s stock worth $25,229,000 after purchasing an additional 73,307 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In related news, VP Arif Husain sold 4,112 shares of the 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 completion of the transaction, the vice president now owns 36,800 shares of the company’s stock, valued at $4,021,136. This represents a 10.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert F. Maclellan sold 3,955 shares of the company’s 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 transaction, the director now owns 42,979 shares of the company’s stock, valued at approximately $3,935,157.24. This trade represents a 8.43 % 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.

Analysts Set New Price Targets

A number of research analysts have weighed in on TROW shares. Morgan Stanley decreased their target price 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. Wells Fargo & Company dropped their target price on T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Citigroup lowered their target price on T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Finally, Evercore ISI dropped their price target on shares of T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating on the stock in a research note on Friday, April 11th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and an average price target of $100.09.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $87.58 on Wednesday. The firm has a market cap of $19.46 billion, a price-to-earnings ratio of 9.56, a P/E/G ratio of 2.86 and a beta of 1.50. The stock has a 50-day simple moving average of $97.08 and a 200-day simple moving average of $108.87. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 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 last year, the business posted $1.72 earnings per share. As a group, equities research analysts predict 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 declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $1.27 per share. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Friday, March 14th. This represents a $5.08 annualized dividend and a dividend yield of 5.80%. T. Rowe Price Group’s payout ratio is 55.46%.

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.