Treasurer of the State of North Carolina Has $10.91 Million Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Treasurer of the State of North Carolina boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.6% in the fourth quarter, HoldingsChannel reports. The firm owned 96,465 shares of the asset manager’s stock after buying an additional 610 shares during the period. Treasurer of the State of North Carolina’s holdings in T. Rowe Price Group were worth $10,909,000 as of its most recent SEC filing.

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

Insider Buying and Selling

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 sale, the vice president now owns 36,800 shares in the company, valued at $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction 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 completion of the transaction, the director now owns 42,979 shares of the company’s stock, valued at approximately $3,935,157.24. This trade represents a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $88.74 on Friday. The firm has a market cap of $19.72 billion, a price-to-earnings ratio of 9.69, a P/E/G ratio of 2.86 and a beta of 1.50. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The firm’s 50-day simple moving average is $97.98 and its two-hundred day simple moving average is $109.16.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results 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 firm posted $1.72 earnings per share. Analysts forecast 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. Stockholders of record on Friday, March 14th were paid a dividend of $1.27 per share. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Friday, March 14th. This represents a $5.08 annualized dividend and a dividend yield of 5.72%. T. Rowe Price Group’s dividend payout ratio is presently 55.46%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wells Fargo & Company dropped their price target on shares of 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. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $113.00 target price (up previously from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. TD Cowen decreased their price target on T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Finally, Citigroup reduced their target price on shares of T. Rowe Price Group from $120.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, March 31st. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group has a consensus rating of “Hold” and an average price target of $101.36.

T. Rowe Price Group 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.