Aviva PLC raised its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 858.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,279 shares of the asset manager's stock after purchasing an additional 124,752 shares during the quarter. Aviva PLC owned about 0.06% of T. Rowe Price Group worth $15,751,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in T. Rowe Price Group by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager's stock valued at $2,947,559,000 after purchasing an additional 135,203 shares during the period. Charles Schwab Investment Management Inc. grew its stake in T. Rowe Price Group by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager's stock valued at $812,798,000 after acquiring an additional 346,369 shares during the period. Geode Capital Management LLC increased its stake in shares of T. Rowe Price Group by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager's stock worth $635,260,000 after purchasing an additional 116,231 shares in the last quarter. Provident Trust Co. increased its stake in T. Rowe Price Group by 8.9% during the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager's stock worth $295,311,000 after buying an additional 213,566 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in T. Rowe Price Group by 0.5% in the 4th quarter. Fisher Asset Management LLC now owns 1,870,446 shares of the asset manager's stock valued at $211,529,000 after purchasing an additional 8,992 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.
T. Rowe Price Group Stock Performance
NASDAQ TROW traded up $2.80 on Friday, reaching $88.74. The stock had a trading volume of 2,952,480 shares, compared to its average volume of 1,437,661. The business's 50-day moving average price is $97.98 and its 200 day moving average price is $109.16. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The stock has a market cap of $19.72 billion, a P/E ratio of 9.69, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 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 20.83%. During the same period in the previous year, the company earned $1.72 EPS. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.
T. Rowe Price Group Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $1.27 dividend. The ex-dividend date was Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a yield of 5.72%. 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 55.46%.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the stock. Barclays decreased 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 research note on Thursday, February 6th. TD Cowen decreased their price objective on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating on the stock in a report on Wednesday. StockNews.com downgraded T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Sunday, February 2nd. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Finally, Citigroup decreased their price target on shares of T. Rowe Price Group from $120.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, March 31st. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $101.36.
View Our Latest Report on T. Rowe Price Group
Insider Activity at T. Rowe Price Group
In related news, Director Robert F. Maclellan sold 3,955 shares of the company's stock in a transaction that occurred 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 $3,935,157.24. This represents a 8.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Arif Husain sold 4,112 shares of the firm's stock in a transaction 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 completion of the transaction, the vice president now owns 36,800 shares of the company's stock, valued at approximately $4,021,136. This represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company's stock.
T. Rowe Price Group Profile
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Free Report)
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.
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