Choate Investment Advisors Invests $289,000 in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Choate Investment Advisors purchased a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,556 shares of the asset manager’s stock, valued at approximately $289,000.

Other institutional investors also recently modified their holdings of the company. Nilsine Partners LLC grew its position in shares of T. Rowe Price Group by 75.5% during the 4th quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock worth $623,000 after buying an additional 2,370 shares during the period. Principal Financial Group Inc. grew its position in shares of T. Rowe Price Group by 2.8% during the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock worth $30,062,000 after buying an additional 7,503 shares during the period. Amundi grew its position in shares of T. Rowe Price Group by 30.1% during the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock worth $194,064,000 after buying an additional 397,278 shares during the period. Janus Henderson Group PLC grew its holdings in T. Rowe Price Group by 3.8% during the third quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock valued at $3,267,000 after purchasing an additional 1,100 shares during the period. Finally, Commonwealth Equity Services LLC grew its holdings in T. Rowe Price Group by 5.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager’s stock valued at $40,436,000 after purchasing an additional 20,062 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Up 1.4 %

Shares of TROW stock opened at $94.31 on Tuesday. The company’s fifty day simple moving average is $107.87 and its 200-day simple moving average is $111.57. The firm has a market cap of $21.00 billion, a PE ratio of 10.30, a P/E/G ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 12 month low of $91.37 and a 12 month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 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 prior year, the business posted $1.72 earnings per share. On average, equities 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued 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 dividend yield of 5.39%. 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 the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TROW. Barclays decreased their price objective on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Morgan Stanley decreased their price objective on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Wells Fargo & Company decreased 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. Finally, StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $114.09.

T. Rowe Price Group Company 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.