Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $74,000 Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 61.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 680 shares of the asset manager’s stock after selling 1,097 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in T. Rowe Price Group were worth $74,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV grew its position in shares of T. Rowe Price Group by 83.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after buying an additional 106 shares during the period. OFI Invest Asset Management acquired a new stake in shares of T. Rowe Price Group during the 3rd quarter worth approximately $25,000. Park Place Capital Corp grew its position in shares of T. Rowe Price Group by 1,775.0% during the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after buying an additional 284 shares during the period. Fortitude Family Office LLC acquired a new stake in shares of T. Rowe Price Group during the 4th quarter worth approximately $33,000. Finally, CVA Family Office LLC acquired a new stake in shares of T. Rowe Price Group during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TROW. Citigroup lifted their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and lifted their price objective for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. JPMorgan Chase & Co. lifted their price objective on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. UBS Group lifted their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. Finally, Wells Fargo & Company lifted their price objective on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a research note on Friday, February 9th. Four analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $112.67.

Insider Activity

In other news, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the sale, the director now directly owns 21,073 shares in the company, valued at $2,493,357.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares in the company, valued at $1,511,925.69. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the transaction, the director now owns 21,073 shares in the company, valued at $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $111.94 on Wednesday. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $132.76. The firm’s 50 day moving average price is $114.89 and its two-hundred day moving average price is $106.95. The firm has a market cap of $25.03 billion, a P/E ratio of 14.43, a PEG ratio of 2.09 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.12. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the firm posted $1.74 earnings per share. The business’s revenue was up 6.5% on a year-over-year basis. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 8.36 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $1.24 dividend. The ex-dividend date was Thursday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.43%. T. Rowe Price Group’s dividend payout ratio (DPR) is 63.92%.

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.