T. Rowe Price Group, Inc. (NASDAQ:TROW) Short Interest Update

T. Rowe Price Group, Inc. (NASDAQ:TROW) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 11,640,000 shares, a growth of 29.2% from the February 28th total of 9,010,000 shares. Currently, 5.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,740,000 shares, the days-to-cover ratio is currently 6.7 days.

Analysts Set New Price Targets

TROW has been the topic of several analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research 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 dropped their price target on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. Barclays decreased their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Finally, Wells Fargo & Company dropped their target price on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $114.09.

Insider Activity at T. Rowe Price Group

In other news, VP Arif Husain sold 4,112 shares of the business’s 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 directly owns 36,800 shares of the company’s stock, valued at $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

A number of large investors have recently added to or reduced their stakes in the stock. Glenview Trust co lifted its stake in shares of T. Rowe Price Group by 2.2% in the fourth quarter. Glenview Trust co now owns 4,318 shares of the asset manager’s stock worth $488,000 after buying an additional 92 shares during the last quarter. MCF Advisors LLC lifted its position in T. Rowe Price Group by 1.5% during the 4th quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock worth $704,000 after acquiring an additional 93 shares during the last quarter. Addison Advisors LLC boosted its holdings in T. Rowe Price Group by 67.4% during the fourth 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 period. Brooklyn Investment Group grew its position in shares of T. Rowe Price Group by 24.6% in the fourth quarter. Brooklyn Investment Group now owns 497 shares of the asset manager’s stock valued at $56,000 after purchasing an additional 98 shares during the last quarter. Finally, Advantage Trust Co increased its stake in shares of T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after purchasing an additional 100 shares during the period. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Down 3.3 %

Shares of TROW opened at $91.57 on Monday. The firm has a market cap of $20.35 billion, a price-to-earnings ratio of 10.00, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. The company’s fifty day moving average is $104.61 and its 200-day moving average is $110.92. T. Rowe Price Group has a 12 month low of $90.92 and a 12 month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its 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 return on equity of 20.83% and a net margin of 29.61%. During the same quarter last year, the company earned $1.72 EPS. As a group, research analysts predict that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $1.27 dividend. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a yield of 5.55%. The ex-dividend date of this dividend 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.