Alps Advisors Inc. Has $28.34 Million Stock Holdings in T. Rowe Price Group, Inc. $TROW

Alps Advisors Inc. grew its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 276,778 shares of the asset manager’s stock after buying an additional 6,731 shares during the quarter. Alps Advisors Inc.’s holdings in T. Rowe Price Group were worth $28,337,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TD Private Client Wealth LLC increased its stake in shares of T. Rowe Price Group by 91.8% in the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after buying an additional 123 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in T. Rowe Price Group by 540.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after purchasing an additional 238 shares during the period. Canton Hathaway LLC acquired a new stake in T. Rowe Price Group in the fourth quarter worth about $31,000. Sound Income Strategies LLC increased its position in T. Rowe Price Group by 170.3% in the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after purchasing an additional 189 shares during the period. Finally, TD Waterhouse Canada Inc. increased its position in T. Rowe Price Group by 92.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 386 shares of the asset manager’s stock worth $40,000 after purchasing an additional 185 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction dated 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 owned 83,883 shares in the company, valued at $8,603,040.48. The trade was a 3.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.60% of the company’s stock.

T. Rowe Price Group Trading Up 1.7%

Shares of TROW opened at $108.27 on Friday. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $118.22. The stock has a market cap of $23.20 billion, a P/E ratio of 11.60, a price-to-earnings-growth ratio of 5.45 and a beta of 1.50. The stock’s 50-day moving average price is $100.43 and its two-hundred day moving average price is $99.55.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) 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 firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter last year, the business earned $2.23 earnings per share. The company’s revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.63 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be issued a dividend of $1.30 per share. The ex-dividend date is Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a yield of 4.8%. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.73%.

Analysts Set New Price Targets

TROW has been the subject of a number of research reports. Barclays lifted their price objective on T. Rowe Price Group from $87.00 to $89.00 and gave the stock an “underweight” rating in a research report on Friday, May 1st. Zacks Research upgraded T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Friday, May 8th. Jefferies Financial Group lowered their price objective on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a research report on Wednesday, April 8th. Finally, JPMorgan Chase & Co. lowered their price objective on T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a research report on Friday, April 24th. Eleven equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $100.08.

T. Rowe Price Group Company 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.