Davis R M Inc. Decreases Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Davis R M Inc. trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 64.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,812 shares of the asset manager's stock after selling 98,699 shares during the period. Davis R M Inc.'s holdings in T. Rowe Price Group were worth $6,199,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of TROW. Independent Advisor Alliance raised its holdings in T. Rowe Price Group by 23.3% in the fourth quarter. Independent Advisor Alliance now owns 24,391 shares of the asset manager's stock worth $2,758,000 after purchasing an additional 4,603 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of T. Rowe Price Group by 7.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 29,186 shares of the asset manager's stock valued at $3,301,000 after buying an additional 2,064 shares during the period. Taika Capital LP acquired a new stake in shares of T. Rowe Price Group during the 4th quarter worth approximately $3,047,000. United Community Bank purchased a new position in T. Rowe Price Group in the fourth quarter valued at $1,608,000. Finally, Amundi raised its position in shares of T. Rowe Price Group by 30.1% in the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager's stock worth $194,064,000 after acquiring an additional 397,278 shares during the period. Institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Trading Down 2.1 %

T. Rowe Price Group stock traded down $2.00 during midday trading on Wednesday, hitting $94.30. 1,806,563 shares of the stock were exchanged, compared to its average volume of 1,636,510. The stock's 50-day simple moving average is $109.53 and its 200 day simple moving average is $111.97. T. Rowe Price Group, Inc. has a fifty-two week low of $92.79 and a fifty-two week high of $125.81. The stock has a market capitalization of $21.00 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 2.86 and a beta of 1.46.

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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 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 quarter in the previous year, the business posted $1.72 EPS. Equities analysts anticipate 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 declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $1.27 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.39%. T. Rowe Price Group's dividend payout ratio (DPR) is currently 55.46%.

Insider Activity

In related news, VP Arif Husain sold 4,112 shares of the firm's stock in a transaction dated 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 transaction, the vice president now directly owns 36,800 shares in the company, valued at $4,021,136. This trade represents a 10.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.00% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on TROW shares. Barclays cut their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating for the company in a research report on Thursday, February 6th. Morgan Stanley reduced their price objective on shares of 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. StockNews.com cut shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Finally, Wells Fargo & Company cut their price objective 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. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $114.09.

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.