Adage Capital Partners GP L.L.C. Increases Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Adage Capital Partners GP L.L.C. raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 71.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 148,840 shares of the asset manager's stock after acquiring an additional 62,010 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.07% of T. Rowe Price Group worth $16,832,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of TROW. Addison Advisors LLC increased its holdings in T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock valued at $26,000 after acquiring an additional 93 shares during the last quarter. Curio Wealth LLC bought a new stake in T. Rowe Price Group in the 4th quarter valued at $27,000. Y.D. More Investments Ltd increased its holdings in T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock valued at $32,000 after acquiring an additional 155 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in T. Rowe Price Group in the 4th quarter valued at $32,000. Finally, Advantage Trust Co increased its holdings in 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 acquiring an additional 100 shares during 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 Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction on Tuesday, February 11th. The stock was 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 approximately $4,021,136. This trade represents a 10.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 in the company, valued at $3,935,157.24. This represents a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Morgan Stanley reduced their target price on shares of T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating on the stock in a report on Monday, February 24th. Barclays reduced their target price on shares of T. Rowe Price Group from $105.00 to $85.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Bank of America reduced their target price on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a report on Thursday, April 3rd. The Goldman Sachs Group reduced their target price on shares of T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating on the stock in a report on Monday, April 14th. Finally, Evercore ISI reduced their target price on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating on the stock in a report on Friday, April 11th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $96.00.

T. Rowe Price Group Stock Up 0.1 %

NASDAQ:TROW traded up $0.13 during mid-day trading on Tuesday, hitting $88.86. 1,563,904 shares of the stock traded hands, compared to its average volume of 1,452,920. The stock has a market capitalization of $19.75 billion, a price-to-earnings ratio of 9.70, a PEG 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 moving average is $92.83 and its two-hundred day moving average is $107.43.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released 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 quarter in the previous year, the firm earned $1.72 earnings per share. As a group, research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 5.72%. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.24. The ex-dividend date was Friday, March 14th. T. Rowe Price Group's payout ratio is 55.46%.

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.