1,040,797 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Bought by Norges Bank

Norges Bank bought a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,040,797 shares of the asset manager's stock, valued at approximately $117,704,000. Norges Bank owned 0.47% of T. Rowe Price Group at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of TROW. Vanguard Group Inc. lifted its holdings in shares of T. Rowe Price Group by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager's stock worth $2,947,559,000 after acquiring an additional 135,203 shares during the period. Charles Schwab Investment Management Inc. raised its position in T. Rowe Price Group by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager's stock worth $812,798,000 after purchasing an additional 346,369 shares in the last quarter. Geode Capital Management LLC boosted its holdings in T. Rowe Price Group by 0.5% during the third quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager's stock valued at $598,801,000 after purchasing an additional 25,481 shares in the last quarter. Provident Trust Co. boosted its stake in T. Rowe Price Group by 8.9% in the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager's stock valued at $295,311,000 after buying an additional 213,566 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of T. Rowe Price Group by 0.5% during the fourth quarter. Fisher Asset Management LLC now owns 1,870,446 shares of the asset manager's stock valued at $211,529,000 after acquiring an additional 8,992 shares during the period. Institutional investors and hedge funds own 73.39% of the company's stock.

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Wall Street Analysts Forecast Growth

TROW has been the topic of several analyst reports. Bank of America lowered their target price on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a report on Thursday. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Wells Fargo & Company cut their target price on shares of T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. The Goldman Sachs Group decreased their price target on T. Rowe Price Group from $103.00 to $89.00 and set a "sell" rating on the stock in a research report on Thursday. Finally, Citigroup cut their price objective on T. Rowe Price Group from $120.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday. Five research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $108.50.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the sale, the director now directly owns 42,979 shares in the company, valued at approximately $3,935,157.24. This trade represents a 8.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Arif Husain sold 4,112 shares of the business's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction 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 $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 Stock Performance

T. Rowe Price Group stock traded down $7.68 during trading hours on Thursday, reaching $86.22. 3,284,904 shares of the company's stock traded hands, compared to its average volume of 1,376,128. The firm has a market capitalization of $19.16 billion, a price-to-earnings ratio of 9.41, a PEG ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a fifty-two week low of $85.76 and a fifty-two week high of $125.81. The firm's 50 day moving average is $103.36 and its 200-day moving average is $110.62.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) 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 in the prior year, the firm earned $1.72 earnings per share. Analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid 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 was Friday, March 14th. This represents a $5.08 annualized dividend and a yield of 5.89%. T. Rowe Price Group's dividend payout ratio is presently 55.46%.

T. Rowe Price Group 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.