Callan Family Office LLC Invests $252,000 in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Callan Family Office LLC bought a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,225 shares of the asset manager’s stock, valued at approximately $252,000.

A number of other institutional investors and hedge funds have also modified their holdings of TROW. Charles Schwab Investment Management Inc. increased its stake in shares of T. Rowe Price Group by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock worth $812,798,000 after purchasing an additional 346,369 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in T. Rowe Price Group by 382.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock worth $43,373,000 after acquiring an additional 315,581 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in T. Rowe Price Group in the 4th quarter valued at about $32,332,000. Provident Trust Co. lifted its stake in T. Rowe Price Group by 8.9% in the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock worth $295,311,000 after purchasing an additional 213,566 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in shares of T. Rowe Price Group by 70.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 490,059 shares of the asset manager’s stock worth $55,421,000 after purchasing an additional 201,802 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

TROW has been the subject of several recent research reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Wells Fargo & Company cut their target price 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. Barclays cut 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 note on Thursday, February 6th. Morgan Stanley cut their target price on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Finally, StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Four equities research 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, the stock currently has an average rating of “Hold” and a consensus price target of $114.09.

T. Rowe Price Group Trading Down 2.5 %

Shares of NASDAQ:TROW opened at $96.30 on Wednesday. The business has a 50-day moving average price of $109.53 and a 200 day moving average price of $111.97. The company has a market capitalization of $21.44 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 12-month low of $95.98 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data 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 period last year, the company earned $1.72 EPS. As a group, equities research analysts predict 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 announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $1.27 dividend. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a yield of 5.28%. The ex-dividend date is Friday, March 14th. T. Rowe Price Group’s payout ratio is currently 55.46%.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction dated 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 transaction, the vice president now directly owns 36,800 shares of the company’s stock, valued at $4,021,136. The trade was a 10.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is currently owned by corporate insiders.

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.