Baillie Gifford & Co. Has $48.80 Million Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Baillie Gifford & Co. grew its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 11.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 431,485 shares of the asset manager's stock after buying an additional 43,291 shares during the quarter. Baillie Gifford & Co. owned approximately 0.19% of T. Rowe Price Group worth $48,797,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Iron Horse Wealth Management LLC boosted its holdings in T. Rowe Price Group by 90.9% during the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager's stock worth $25,000 after buying an additional 110 shares during the last quarter. Y.D. More Investments Ltd lifted its holdings in shares of 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 bought a new position in shares of T. Rowe Price Group during the 4th quarter valued at about $32,000. True Wealth Design LLC bought a new position in shares of T. Rowe Price Group during the 3rd quarter valued at about $37,000. Finally, Larson Financial Group LLC lifted its holdings in shares of T. Rowe Price Group by 866.7% during the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager's stock valued at $38,000 after purchasing an additional 312 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Price Performance

TROW traded down $2.22 during trading on Friday, hitting $106.27. The stock had a trading volume of 1,199,985 shares, compared to its average volume of 1,543,894. The company has a 50 day moving average price of $112.79 and a 200-day moving average price of $112.29. The firm has a market cap of $23.66 billion, a price-to-earnings ratio of 11.60, a P/E/G ratio of 2.85 and a beta of 1.44. T. Rowe Price Group, Inc. has a one year low of $100.49 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released 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 20.83%. During the same period in the prior year, the company earned $1.72 earnings per share. 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 business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.78%. This is an increase from T. Rowe Price Group's previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. T. Rowe Price Group's dividend payout ratio is presently 54.15%.

Insider Activity

In other news, VP Arif Husain sold 4,112 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the sale, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. This represents a 10.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the sale, the vice president now owns 119,577 shares of the company's stock, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on T. Rowe Price Group from $129.00 to $132.00 and gave the company an "equal weight" rating in a report on Friday, December 20th. 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. Keefe, Bruyette & Woods reissued 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 report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft lifted their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the company a "hold" rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company dropped their target price on T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 6th. Four 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, the company presently has a consensus rating of "Hold" and a consensus price target of $115.09.

T. Rowe Price Group Company 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.