HighTower Advisors LLC Has $20.82 Million Stock Position in T. Rowe Price Group, Inc. $TROW

HighTower Advisors LLC cut its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 203,358 shares of the asset manager’s stock after selling 16,795 shares during the quarter. HighTower Advisors LLC’s holdings in T. Rowe Price Group were worth $20,820,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Essex Bank boosted its holdings in shares of T. Rowe Price Group by 3.6% during the 3rd quarter. Essex Bank now owns 2,914 shares of the asset manager’s stock worth $299,000 after buying an additional 100 shares in the last quarter. PFG Investments LLC boosted its holdings in shares of T. Rowe Price Group by 4.8% during the 3rd quarter. PFG Investments LLC now owns 2,249 shares of the asset manager’s stock worth $231,000 after buying an additional 102 shares in the last quarter. GenTrust LLC boosted its holdings in shares of T. Rowe Price Group by 5.5% during the 4th quarter. GenTrust LLC now owns 2,114 shares of the asset manager’s stock worth $216,000 after buying an additional 110 shares in the last quarter. Fiduciary Trust Co boosted its holdings in shares of T. Rowe Price Group by 4.5% during the 3rd quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager’s stock worth $265,000 after buying an additional 111 shares in the last quarter. Finally, 1834 Investment Advisors Co. boosted its holdings in shares of T. Rowe Price Group by 0.3% during the 4th quarter. 1834 Investment Advisors Co. now owns 37,490 shares of the asset manager’s stock worth $3,838,000 after buying an additional 115 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the transaction, the vice president directly owned 83,883 shares of the company’s stock, valued at $8,603,040.48. This represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TROW shares. Zacks Research upgraded T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft cut their price target on T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, February 5th. Evercore cut their price target on T. Rowe Price Group from $106.00 to $104.00 in a report on Monday, May 11th. Keefe, Bruyette & Woods increased their price target on T. Rowe Price Group from $95.00 to $107.00 and gave the stock a “market perform” rating in a report on Friday, May 1st. Finally, The Goldman Sachs Group increased their price target on T. Rowe Price Group from $85.00 to $90.00 in a report on Friday, May 1st. Eleven analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $99.54.

T. Rowe Price Group Stock Up 1.4%

Shares of NASDAQ:TROW opened at $103.39 on Friday. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $118.22. The stock’s 50 day moving average is $95.75 and its 200-day moving average is $99.18. The firm has a market capitalization of $22.15 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 4.51 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the prior year, the firm earned $2.23 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.63 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio is presently 55.73%.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.