T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Purchased by Saratoga Research & Investment Management

Saratoga Research & Investment Management grew its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 9.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,736 shares of the asset manager’s stock after buying an additional 230 shares during the period. Saratoga Research & Investment Management’s holdings in T. Rowe Price Group were worth $309,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Addison Advisors LLC increased its stake in shares of T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after acquiring an additional 93 shares during the period. Curio Wealth LLC acquired a new position in T. Rowe Price Group during the 4th quarter worth approximately $27,000. Y.D. More Investments Ltd raised its stake in shares of T. Rowe Price Group by 124.0% during the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after buying an additional 155 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of T. Rowe Price Group in the 4th quarter valued at approximately $32,000. Finally, Advantage Trust Co lifted its holdings in shares of 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 buying an additional 100 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on TROW shares. Morgan Stanley cut their price objective on 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. Keefe, Bruyette & Woods reiterated 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. Barclays decreased their price objective on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Finally, Wells Fargo & Company decreased their price target on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, T. Rowe Price Group has an average rating of “Hold” and an average target price of $114.09.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, 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 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 SEC, which is available through this link. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

TROW stock opened at $91.57 on Monday. The stock’s 50 day moving average price is $104.61 and its 200 day moving average price is $110.92. The firm has a market cap of $20.35 billion, a P/E ratio of 10.00, a PEG ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 1 year low of $90.92 and a 1 year 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 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 in the previous year, the company earned $1.72 earnings per share. On average, 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 company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $1.27 per share. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a dividend yield of 5.55%. The ex-dividend date of this dividend was Friday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 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.