Invesco Ltd. raised its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,397,819 shares of the asset manager's stock after purchasing an additional 40,514 shares during the period. Invesco Ltd. owned 1.08% of T. Rowe Price Group worth $271,169,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of TROW. Vanguard Group Inc. lifted its stake in T. Rowe Price Group by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager's stock valued at $2,947,559,000 after buying an additional 135,203 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of T. Rowe Price Group by 5.1% during the fourth 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 during the last quarter. Geode Capital Management LLC raised its stake in T. Rowe Price Group by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager's stock valued at $635,260,000 after purchasing an additional 116,231 shares during the last quarter. Provident Trust Co. lifted its holdings in T. Rowe Price Group by 8.9% in the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager's stock valued at $295,311,000 after purchasing an additional 213,566 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of T. Rowe Price Group by 0.5% during the fourth quarter. Fisher Asset Management LLC now owns 1,870,446 shares of the asset manager's stock worth $211,529,000 after buying an additional 8,992 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts recently issued reports on the stock. Wells Fargo & Company decreased their target price on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Bank of America decreased their price objective 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. Citigroup dropped their target price on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a research note on Monday. Morgan Stanley decreased their price target on T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating on the stock in a research note on Monday, February 24th. Finally, Barclays dropped their price objective on shares of 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. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $100.09.
Get Our Latest Stock Analysis on T. Rowe Price Group
Insider Buying and Selling
In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the firm's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the transaction, the director now directly owns 42,979 shares of the company's stock, valued at $3,935,157.24. This trade represents a 8.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Arif Husain sold 4,112 shares of the company's stock in a transaction dated Tuesday, February 11th. The shares were 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 owns 36,800 shares in the company, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.
T. Rowe Price Group Trading Down 2.0 %
NASDAQ:TROW traded down $1.77 during mid-day trading on Tuesday, hitting $87.55. The company had a trading volume of 1,130,956 shares, compared to its average volume of 1,440,746. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The business has a fifty day simple moving average of $97.55 and a 200-day simple moving average of $109.02. The firm has a market capitalization of $19.46 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 2.86 and a beta of 1.50.
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 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 in the previous year, the firm posted $1.72 earnings per share. As a group, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.
T. Rowe Price Group Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $1.27 dividend. 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 yield of 5.80%. The ex-dividend date was Friday, March 14th. T. Rowe Price Group's dividend payout ratio is presently 55.46%.
About T. Rowe Price Group
(
Free Report)
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.
Featured Stories
Before you consider T. Rowe Price Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and T. Rowe Price Group wasn't on the list.
While T. Rowe Price Group currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
