Abacus FCF Advisors LLC Has $3.82 Million Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Abacus FCF Advisors LLC grew its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 46.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,731 shares of the asset manager’s stock after acquiring an additional 10,664 shares during the period. Abacus FCF Advisors LLC’s holdings in T. Rowe Price Group were worth $3,815,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TROW. Glenview Trust co boosted its position in T. Rowe Price Group by 2.2% during the fourth quarter. Glenview Trust co now owns 4,318 shares of the asset manager’s stock worth $488,000 after purchasing an additional 92 shares during the period. MCF Advisors LLC lifted its stake in shares of T. Rowe Price Group by 1.5% during the 4th quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock worth $704,000 after buying an additional 93 shares during the last quarter. Addison Advisors LLC boosted its holdings in shares of 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 buying an additional 93 shares during the period. Brooklyn Investment Group grew its stake in T. Rowe Price Group by 24.6% in the 4th quarter. Brooklyn Investment Group now owns 497 shares of the asset manager’s stock valued at $56,000 after buying an additional 98 shares during the last quarter. Finally, Advantage Trust Co raised 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 acquiring an additional 100 shares during the period. 73.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TROW has been the topic of a number of recent research reports. 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 note on Thursday, February 6th. Barclays lowered their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. Bank of America reduced their target price on shares of T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating for the company in a research report on Thursday, April 3rd. The Goldman Sachs Group lowered their price target on shares of T. Rowe Price Group from $103.00 to $89.00 and set a “sell” rating on the stock in a research report on Thursday, April 3rd. Finally, Wells Fargo & Company cut 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. Five 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.com, T. Rowe Price Group has an average rating of “Hold” and an average price target of $108.50.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction dated Monday, March 31st. The stock was 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 in the company, valued at approximately $3,935,157.24. This trade represents a 8.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Arif Husain sold 4,112 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the transaction, the vice president now directly owns 36,800 shares in the company, valued at $4,021,136. The trade was a 10.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $81.66 on Tuesday. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The company has a market cap of $18.15 billion, a P/E ratio of 8.91, a P/E/G ratio of 2.86 and a beta of 1.50. The firm has a 50-day moving average of $101.54 and a 200-day moving average of $110.12.

T. Rowe Price Group (NASDAQ:TROW) last issued 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 return on equity of 20.83% and a net margin of 29.61%. During the same quarter in the previous year, the company earned $1.72 earnings per share. As a group, research analysts expect 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 company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $1.27 dividend. 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 6.22%. The ex-dividend date was Friday, March 14th. T. Rowe Price Group’s payout ratio is currently 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.