New York Life Investment Management LLC Boosts Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

New York Life Investment Management LLC grew its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,746 shares of the asset manager’s stock after purchasing an additional 177 shares during the period. New York Life Investment Management LLC’s holdings in T. Rowe Price Group were worth $3,364,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Simmons Bank boosted its stake in shares of T. Rowe Price Group by 12.0% during the fourth quarter. Simmons Bank now owns 9,713 shares of the asset manager’s stock valued at $1,098,000 after purchasing an additional 1,041 shares during the period. Checchi Capital Advisers LLC boosted its stake in shares of T. Rowe Price Group by 11.1% during the fourth quarter. Checchi Capital Advisers LLC now owns 2,419 shares of the asset manager’s stock valued at $274,000 after purchasing an additional 241 shares during the period. Los Angeles Capital Management LLC boosted its stake in shares of T. Rowe Price Group by 70.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 490,059 shares of the asset manager’s stock valued at $55,421,000 after purchasing an additional 201,802 shares during the period. Amalgamated Bank boosted its stake in shares of T. Rowe Price Group by 0.9% during the fourth quarter. Amalgamated Bank now owns 44,661 shares of the asset manager’s stock valued at $5,051,000 after purchasing an additional 391 shares during the period. Finally, Horizon Advisory Services Inc. purchased a new stake in shares of T. Rowe Price Group during the fourth quarter valued at $308,000. 73.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now owns 119,577 shares in the company, valued at $14,749,822.95. This represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were 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 in the company, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

TROW stock opened at $105.72 on Friday. The firm has a market cap of $23.54 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 2.86 and a beta of 1.44. The firm has a 50-day simple moving average of $111.75 and a two-hundred day simple moving average of $112.38. T. Rowe Price Group, Inc. has a one year low of $100.49 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 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 quarter in the previous year, the business earned $1.72 EPS. As a group, 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 company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 4.81%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date is Friday, March 14th. T. Rowe Price Group’s dividend payout ratio is presently 55.46%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TROW shares. Barclays lowered their target price on shares of 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 lowered their target price on shares of 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. TD Cowen lowered their price objective on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Evercore ISI upped their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and an average price target of $114.09.

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.