Geode Capital Management LLC Purchases 116,231 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Geode Capital Management LLC raised its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,631,429 shares of the asset manager's stock after purchasing an additional 116,231 shares during the quarter. Geode Capital Management LLC owned 2.53% of T. Rowe Price Group worth $635,260,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. National Bank of Canada FI boosted its stake in shares of T. Rowe Price Group by 8.3% in the 4th quarter. National Bank of Canada FI now owns 200,812 shares of the asset manager's stock valued at $22,720,000 after purchasing an additional 15,359 shares in the last quarter. HighPoint Advisor Group LLC boosted its position in T. Rowe Price Group by 18.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 6,590 shares of the asset manager's stock valued at $719,000 after buying an additional 1,043 shares in the last quarter. Franklin Resources Inc. grew its stake in T. Rowe Price Group by 0.4% during the fourth quarter. Franklin Resources Inc. now owns 492,240 shares of the asset manager's stock worth $55,667,000 after buying an additional 2,085 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of T. Rowe Price Group by 2.9% during the fourth quarter. Alliancebernstein L.P. now owns 310,160 shares of the asset manager's stock worth $35,076,000 after buying an additional 8,668 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of T. Rowe Price Group by 30.9% in the fourth quarter. Wellington Management Group LLP now owns 72,092 shares of the asset manager's stock valued at $8,153,000 after acquiring an additional 16,999 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

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Insider Activity at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the firm'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 sale, the vice president now owns 36,800 shares of the company's stock, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction dated 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 in the company, valued at approximately $3,935,157.24. This represents a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Stock Performance

TROW traded up $9.89 during trading on Wednesday, reaching $90.16. 4,852,415 shares of the company's stock were exchanged, compared to its average volume of 1,426,285. The company's fifty day moving average price is $99.10 and its 200-day moving average price is $109.45. The firm has a market capitalization of $20.04 billion, a PE ratio of 9.84, a P/E/G ratio of 2.86 and a beta of 1.50. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing analysts' consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period last year, the firm earned $1.72 EPS. Research 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 business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $1.27 dividend. The ex-dividend date was 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 5.63%. T. Rowe Price Group's dividend payout ratio is 55.46%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. The Goldman Sachs Group decreased their price target on T. Rowe Price Group from $103.00 to $89.00 and set a "sell" rating on the stock in a research report on Thursday, April 3rd. Bank of America decreased their target price on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a report on Thursday, April 3rd. Barclays cut their price target on T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating for the company in a report on Thursday, February 6th. Wells Fargo & Company decreased their price objective on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a report on Tuesday. Finally, TD Cowen dropped their target price on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a research note on Wednesday. Five research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of "Hold" and an average target price of $104.75.

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.