Anchor Investment Management LLC Buys 568 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Anchor Investment Management LLC raised its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,640 shares of the asset manager’s stock after buying an additional 568 shares during the quarter. Anchor Investment Management LLC’s holdings in T. Rowe Price Group were worth $3,126,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Addison Advisors LLC boosted its stake 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 worth $26,000 after purchasing an additional 93 shares in the last quarter. Curio Wealth LLC purchased a new position in T. Rowe Price Group in the fourth quarter worth about $27,000. Y.D. More Investments Ltd lifted its stake in shares of T. Rowe Price Group by 124.0% in the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after buying an additional 155 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of T. Rowe Price Group during the fourth quarter valued at approximately $32,000. Finally, Advantage Trust Co increased its position in shares of T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 100 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Robert F. Maclellan sold 3,955 shares of the business’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the transaction, the director now directly owns 42,979 shares in the company, valued at $3,935,157.24. The trade was a 8.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the transaction, the vice president now directly owns 36,800 shares of the company’s stock, 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. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $89.32 on Tuesday. The stock has a market capitalization of $19.85 billion, a PE ratio of 9.75, a P/E/G ratio of 2.86 and a beta of 1.50. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81. The company’s fifty day simple moving average is $97.55 and its 200-day simple moving average is $109.02.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data 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 period in the prior year, the company posted $1.72 earnings per share. As a group, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $1.27 per share. The ex-dividend date was Friday, March 14th. This represents a $5.08 annualized dividend and a yield of 5.69%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s payout ratio is currently 55.46%.

Analysts Set New Price Targets

Several brokerages have commented on TROW. TD Cowen cut their target price on T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, April 9th. Barclays dropped their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. Wells Fargo & Company decreased their target price on T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Finally, Evercore ISI decreased their price objective on shares of T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating for the company in a report on Friday. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $100.09.

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.