Applied Finance Capital Management LLC Purchases Shares of 5,445 T. Rowe Price Group, Inc. (NASDAQ:TROW)

Applied Finance Capital Management LLC acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,445 shares of the asset manager's stock, valued at approximately $616,000.

Other institutional investors also recently bought and sold shares of the company. Nilsine Partners LLC increased its holdings in 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 buying an additional 2,370 shares during the period. Principal Financial Group Inc. increased its stake in shares of 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 acquiring an additional 7,503 shares during the period. Amundi raised its holdings in shares of T. Rowe Price Group by 30.1% during the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager's stock worth $194,064,000 after purchasing an additional 397,278 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in T. Rowe Price Group by 5.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager's stock valued at $40,436,000 after purchasing an additional 20,062 shares during the period. Finally, Schroder Investment Management Group boosted its holdings in T. Rowe Price Group by 49.4% in the fourth quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager's stock valued at $25,229,000 after purchasing an additional 73,307 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Robert F. Maclellan sold 3,955 shares of the business's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the sale, the director now owns 42,979 shares in the company, valued at approximately $3,935,157.24. The trade was a 8.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Arif Husain sold 4,112 shares of the firm'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 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 disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW traded up $0.30 during midday trading on Monday, hitting $89.04. The company had a trading volume of 727,344 shares, compared to its average volume of 1,951,267. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The stock has a market cap of $19.79 billion, a price-to-earnings ratio of 9.72, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50. The business's 50-day simple moving average is $97.98 and its 200-day simple moving average is $109.16.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its 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 net margin of 29.61% and a return on equity of 20.83%. During the same quarter last year, the business earned $1.72 earnings per share. As a group, sell-side analysts forecast 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 disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $1.27 dividend. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a yield of 5.71%. The ex-dividend date was Friday, March 14th. T. Rowe Price Group's payout ratio is 55.46%.

Analyst Ratings Changes

TROW has been the topic of a number of recent research reports. Bank of America lowered their target price on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a research note on Thursday, April 3rd. TD Cowen cut their price objective on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Barclays dropped 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 report on Thursday, February 6th. Evercore ISI lowered their price target on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating on the stock in a research report on Friday. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $101.36.

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.