18,520 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Acquired by Kennondale Capital Management LLC

Kennondale Capital Management LLC acquired a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 18,520 shares of the asset manager's stock, valued at approximately $2,094,000. T. Rowe Price Group comprises 1.7% of Kennondale Capital Management LLC's investment portfolio, making the stock its 11th biggest holding.

Several other institutional investors have also bought and sold shares of the business. Nilsine Partners LLC lifted its holdings in shares of T. Rowe Price Group by 75.5% in the 4th quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager's stock worth $623,000 after acquiring an additional 2,370 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of T. Rowe Price Group by 2.8% in the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager's stock worth $30,062,000 after acquiring an additional 7,503 shares during the last quarter. Amundi lifted its holdings in shares of T. Rowe Price Group by 30.1% in the 4th 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 last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of 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 acquiring an additional 20,062 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of T. Rowe Price Group by 3.8% in the 3rd quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager's stock worth $3,267,000 after acquiring an additional 1,100 shares during the last quarter. Institutional investors own 73.39% of the company's stock.

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Analyst Upgrades and Downgrades

Several research analysts recently commented on TROW shares. StockNews.com downgraded shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. Morgan Stanley reduced their price target on shares of 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. Barclays reduced their price target 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. Wells Fargo & Company reduced their price target on shares of T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Four research 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 company currently has an average rating of "Hold" and a consensus target price of $114.09.

T. Rowe Price Group Stock Down 0.2 %

Shares of T. Rowe Price Group stock traded down $0.21 on Friday, reaching $92.83. The stock had a trading volume of 5,915,239 shares, compared to its average volume of 1,292,680. The company has a 50 day moving average price of $106.39 and a 200 day moving average price of $111.14. T. Rowe Price Group, Inc. has a 1 year low of $91.37 and a 1 year high of $125.81. The stock has a market capitalization of $20.67 billion, a P/E ratio of 10.13, a P/E/G 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 (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 quarter in the previous year, the company posted $1.72 earnings per share. On average, 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $1.27 dividend. The ex-dividend date is Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.47%. This is an increase from T. Rowe Price Group's previous quarterly dividend of $1.24. T. Rowe Price Group's payout ratio is presently 55.46%.

Insider Transactions at T. Rowe Price Group

In other news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% of the company's stock.

T. Rowe Price Group 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.