United Community Bank Invests $1.61 Million in T. Rowe Price Group, Inc. (NASDAQ:TROW)

United Community Bank purchased a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,220 shares of the asset manager's stock, valued at approximately $1,608,000.

A number of other hedge funds also recently bought and sold shares of TROW. 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 worth $623,000 after purchasing an additional 2,370 shares during the period. Principal Financial Group Inc. lifted its position in T. Rowe Price Group by 2.8% in the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager's stock worth $30,062,000 after buying an additional 7,503 shares during the last quarter. Janus Henderson Group PLC boosted its stake in 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 worth $3,267,000 after buying an additional 1,100 shares during the period. Amundi increased its position in T. Rowe Price Group by 30.1% during the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager's stock valued at $194,064,000 after acquiring an additional 397,278 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of T. Rowe Price Group by 0.5% in 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. Hedge funds and other institutional investors own 73.39% of the company's stock.

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T. Rowe Price Group Stock Down 3.1 %

NASDAQ:TROW traded down $3.02 during mid-day trading on Wednesday, reaching $93.28. The company's stock had a trading volume of 2,968,992 shares, compared to its average volume of 1,664,308. T. Rowe Price Group, Inc. has a 1 year low of $92.79 and a 1 year high of $125.81. The stock has a fifty day moving average of $109.53 and a 200-day moving average of $111.97. The firm has a market capitalization of $20.77 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share 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 in the previous year, the firm posted $1.72 earnings per share. On average, analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $1.27 dividend. The ex-dividend date is Friday, March 14th. This is an increase from T. Rowe Price Group's previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.45%. T. Rowe Price Group's dividend payout ratio (DPR) is currently 55.46%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the business's stock in a transaction dated Tuesday, February 11th. The shares were 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 in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TROW. Morgan Stanley cut their price target on shares of T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating on the stock in a report on Monday, February 24th. Barclays cut their target price on T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating on the stock in a research note on Thursday, February 6th. Wells Fargo & Company decreased their price target on 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. StockNews.com cut T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Sunday, February 2nd. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $113.00 target price (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $114.09.

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.