Proficio Capital Partners LLC Invests $5.59 Million in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Proficio Capital Partners LLC bought a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 4th quarter, HoldingsChannel reports. The fund bought 49,420 shares of the asset manager’s stock, valued at approximately $5,589,000.

Other large investors have also recently added to or reduced their stakes in the company. Nilsine Partners LLC boosted its holdings in shares of T. Rowe Price Group by 75.5% in the 4th quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock valued at $623,000 after buying an additional 2,370 shares during the period. Principal Financial Group Inc. boosted its position in 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 valued at $30,062,000 after purchasing an additional 7,503 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of 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 acquiring an additional 1,100 shares during the period. Aigen Investment Management LP bought a new position in shares of T. Rowe Price Group during the third quarter worth about $516,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of T. Rowe Price Group by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after acquiring an additional 231,286 shares during the period. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Down 1.7 %

Shares of T. Rowe Price Group stock opened at $103.88 on Tuesday. The business has a fifty day simple moving average of $111.51 and a 200-day simple moving average of $112.39. T. Rowe Price Group, Inc. has a fifty-two week low of $100.49 and a fifty-two week high of $125.81. The firm has a market cap of $23.13 billion, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 2.86 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates 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 last year, the company earned $1.72 earnings per share. Analysts anticipate 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 firm 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 $1.27 dividend. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 annualized dividend and a yield of 4.89%. T. Rowe Price Group’s payout ratio is 55.46%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TROW. TD Cowen reduced their target price 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. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Morgan Stanley reduced their price target on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. lowered their price target on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Four investment 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 presently has an average rating of “Hold” and a consensus price target of $114.09.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the transaction, the vice president now owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 sale, the vice president now directly owns 36,800 shares of the company’s stock, valued at $4,021,136. This represents a 10.05 % 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.

About T. Rowe Price Group

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.