Taika Capital LP Takes Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Taika Capital LP bought a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 26,942 shares of the asset manager's stock, valued at approximately $3,047,000. T. Rowe Price Group accounts for 2.3% of Taika Capital LP's investment portfolio, making the stock its 14th biggest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Addison Advisors LLC grew its position in T. Rowe Price Group by 67.4% in the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock valued at $26,000 after acquiring an additional 93 shares in the last quarter. Y.D. More Investments Ltd grew its holdings in T. Rowe Price Group by 124.0% during the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock valued at $32,000 after purchasing an additional 155 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in T. Rowe Price Group in the 4th quarter valued at about $32,000. Advantage Trust Co grew its stake 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. Finally, True Wealth Design LLC purchased a new stake in shares of T. Rowe Price Group during the third quarter worth about $37,000. Institutional investors and hedge funds own 73.39% of the company's stock.

Insider Transactions at T. Rowe Price Group

In other news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the transaction, the vice president now owns 36,800 shares of the company's stock, valued at $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

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Analyst Upgrades and Downgrades

TROW has been the subject of a number of research reports. 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 downgraded T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Sunday, February 2nd. Barclays decreased their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating for the company in a report on Thursday, February 6th. Morgan Stanley reduced their price target on T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating for the company in a research report on Monday, February 24th. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and set a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Four 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 presently has an average rating of "Hold" and an average price target of $114.09.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock traded down $2.90 during midday trading on Wednesday, reaching $93.41. The stock had a trading volume of 997,143 shares, compared to its average volume of 1,618,538. The firm has a market cap of $20.80 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 2.86 and a beta of 1.46. The firm's fifty day simple moving average is $109.53 and its two-hundred day simple moving average is $111.97. T. Rowe Price Group, Inc. has a twelve month low of $92.79 and a twelve month high of $125.81.

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 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 previous year, the company earned $1.72 EPS. As a group, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm 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 dividend of $1.27 per share. The ex-dividend date is Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.44%. 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 currently 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.