Great Lakes Advisors LLC Trims Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Great Lakes Advisors LLC lessened its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 27.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,083 shares of the asset manager's stock after selling 14,866 shares during the quarter. Great Lakes Advisors LLC's holdings in T. Rowe Price Group were worth $4,420,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of TROW. Amundi boosted its position in T. Rowe Price Group by 30.1% during the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager's stock valued at $194,064,000 after acquiring an additional 397,278 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in T. Rowe Price Group by 5.1% during 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 in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in T. Rowe Price Group by 382.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager's stock valued at $43,373,000 after acquiring an additional 315,581 shares in the last quarter. Raymond James Financial Inc. bought a new stake in T. Rowe Price Group during the 4th quarter valued at $32,332,000. Finally, Provident Trust Co. boosted its position 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 valued at $295,311,000 after acquiring an additional 213,566 shares in the last quarter. Institutional investors own 73.39% of the company's stock.

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Insiders Place Their Bets

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction on Tuesday, February 11th. The shares were 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 $4,021,136. The trade was a 10.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock traded up $0.45 during trading on Wednesday, reaching $94.05. The company had a trading volume of 1,696,562 shares, compared to its average volume of 1,275,267. The firm's 50-day simple moving average is $107.48 and its 200 day simple moving average is $111.48. T. Rowe Price Group, Inc. has a 1-year low of $91.37 and a 1-year high of $125.81. The firm has a market capitalization of $20.94 billion, a PE ratio of 10.27, 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 released its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) 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 quarter last year, the firm posted $1.72 earnings per share. Analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 5.40%. 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. T. Rowe Price Group's payout ratio is 55.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TROW shares. Barclays reduced their target price on T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating for the company in a research note on Thursday, February 6th. Wells Fargo & Company reduced 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. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Morgan Stanley reduced their price objective on T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating for the company in a research note on Monday, February 24th. Finally, StockNews.com lowered T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $114.09.

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.