T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Purchased by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. increased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 71.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 148,840 shares of the asset manager’s stock after acquiring an additional 62,010 shares during the quarter. Adage Capital Partners GP L.L.C.’s holdings in T. Rowe Price Group were worth $16,832,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Glenview Trust co boosted its holdings in T. Rowe Price Group by 2.2% in the 4th quarter. Glenview Trust co now owns 4,318 shares of the asset manager’s stock worth $488,000 after buying an additional 92 shares during the last quarter. MCF Advisors LLC lifted its holdings in T. Rowe Price Group by 1.5% in the 4th quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock valued at $704,000 after purchasing an additional 93 shares in the last quarter. Addison Advisors LLC boosted its stake in 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 purchasing an additional 93 shares during the last quarter. Brooklyn Investment Group grew its holdings in shares of T. Rowe Price Group by 24.6% during the fourth quarter. Brooklyn Investment Group now owns 497 shares of the asset manager’s stock worth $56,000 after buying an additional 98 shares in the last quarter. Finally, Advantage Trust Co grew 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 worth $34,000 after buying an additional 100 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TROW shares. Keefe, Bruyette & Woods restated 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. TD Cowen lowered their price target on shares of T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, April 9th. The Goldman Sachs Group decreased their price objective on T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a report on Monday, April 14th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Finally, Wells Fargo & Company reduced their target price on T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $96.00.

Insider Buying and Selling at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,955 shares of the firm’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 value of $362,119.80. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $449,318.24. Following the transaction, the vice president now owns 36,800 shares of the company’s stock, valued at $4,021,136. This trade represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Trading Down 1.2 %

TROW stock opened at $88.44 on Friday. The business’s fifty day moving average price is $93.61 and its 200 day moving average price is $107.71. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The company has a market capitalization of $19.66 billion, a PE ratio of 9.66, a P/E/G ratio of 2.86 and a beta of 1.50.

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 (EPS) 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 business earned $1.72 EPS. Research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $1.27 per share. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change 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 5.74%. T. Rowe Price Group’s dividend payout ratio is 55.46%.

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.