Robinson Value Management Ltd. Acquires New Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Robinson Value Management Ltd. bought a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 20,296 shares of the asset manager's stock, valued at approximately $2,295,000.

Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC increased its holdings in shares of T. Rowe Price Group by 7,992.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager's stock worth $116,300,000 after buying an additional 1,054,461 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of T. Rowe Price Group by 382.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager's stock worth $43,373,000 after buying an additional 315,581 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in T. Rowe Price Group by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager's stock worth $745,169,000 after acquiring an additional 231,286 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of T. Rowe Price Group by 45.1% during the third quarter. Franklin Resources Inc. now owns 490,155 shares of the asset manager's stock worth $53,760,000 after purchasing an additional 152,430 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC purchased a new position in shares of T. Rowe Price Group in the 3rd quarter valued at about $13,559,000. Hedge funds and other institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Stock Down 1.9 %

TROW stock traded down $2.11 during trading hours on Wednesday, hitting $106.92. The company's stock had a trading volume of 1,601,632 shares, compared to its average volume of 1,574,208. The company has a market capitalization of $23.75 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44. T. Rowe Price Group, Inc. has a 12 month low of $100.49 and a 12 month high of $125.81. The stock has a 50 day moving average price of $115.21 and a two-hundred day moving average price of $112.48.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.91%. During the same period in the prior year, the business earned $1.72 EPS. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.36 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 4.75%. The ex-dividend date is Friday, March 14th. This is an increase from T. Rowe Price Group's previous quarterly dividend of $1.24. T. Rowe Price Group's dividend payout ratio (DPR) is presently 54.15%.

Analysts Set New Price Targets

A number of brokerages have recently commented on TROW. Barclays cut their target price on shares of T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating on the stock in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft increased their price target on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a "hold" rating in a report on Monday, November 11th. JPMorgan Chase & Co. cut their price target on T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating for the company in a research note on Monday, November 4th. TD Cowen lowered their target price on T. Rowe Price Group from $120.00 to $116.00 and set a "hold" rating on the stock in a report on Monday, November 4th. Finally, Evercore ISI upped their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an "in-line" rating in a research note on Thursday, November 7th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group has an average rating of "Hold" and an average target price of $115.09.

Insider Activity

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group 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. The trade was a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the transaction, the vice president now owns 119,577 shares in the company, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

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.