Elo Mutual Pension Insurance Co Boosts Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Elo Mutual Pension Insurance Co lifted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 21.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,081 shares of the asset manager's stock after purchasing an additional 4,246 shares during the quarter. Elo Mutual Pension Insurance Co's holdings in T. Rowe Price Group were worth $2,723,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of TROW. Nilsine Partners LLC lifted its holdings in T. Rowe Price Group by 75.5% in the fourth quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager's stock valued at $623,000 after acquiring an additional 2,370 shares during the period. Principal Financial Group Inc. boosted its holdings in T. Rowe Price Group by 2.8% during the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager's stock worth $30,062,000 after buying an additional 7,503 shares in the last quarter. Amundi grew its position in T. Rowe Price Group by 30.1% during the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager's stock valued at $194,064,000 after buying an additional 397,278 shares during the period. Commonwealth Equity Services LLC boosted its holdings in T. Rowe Price Group by 5.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager's stock worth $40,436,000 after buying an additional 20,062 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of T. Rowe Price Group by 3.8% during the third quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager's stock valued at $3,267,000 after acquiring an additional 1,100 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TROW. StockNews.com lowered T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Sunday, February 2nd. Keefe, Bruyette & Woods restated a "market perform" rating and set a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Citigroup dropped their price objective 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. 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. Finally, Morgan Stanley cut 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 report on Monday, February 24th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $111.82.

Insider Buying and Selling

In related news, Director Robert F. Maclellan sold 3,955 shares of the 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 transaction, the director now owns 42,979 shares of the company's stock, valued at $3,935,157.24. This represents a 8.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the sale, the vice president now directly 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 owned by insiders.

T. Rowe Price Group Trading Up 1.6 %

T. Rowe Price Group stock traded up $1.46 during trading on Wednesday, hitting $93.73. The company had a trading volume of 400,478 shares, compared to its average volume of 1,362,221. The company's 50 day simple moving average is $103.75 and its 200-day simple moving average is $110.74. T. Rowe Price Group, Inc. has a 1-year low of $89.70 and a 1-year high of $125.81. The stock has a market cap of $20.83 billion, a price-to-earnings ratio of 10.23, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share 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 period last year, the firm earned $1.72 earnings per share. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm 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. The ex-dividend date of this dividend was Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.42%. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.24. T. Rowe Price Group's payout ratio is 55.46%.

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.