T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Purchased by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund increased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 40.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,240 shares of the asset manager's stock after acquiring an additional 2,649 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in T. Rowe Price Group were worth $1,045,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Iron Horse Wealth Management LLC boosted its stake in T. Rowe Price Group by 90.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager's stock worth $25,000 after purchasing an additional 110 shares during the period. Y.D. More Investments Ltd boosted its stake in T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock worth $32,000 after purchasing an additional 155 shares during the period. Stonebridge Financial Group LLC bought a new position in T. Rowe Price Group in the 4th quarter worth approximately $32,000. True Wealth Design LLC bought a new position in T. Rowe Price Group in the 3rd quarter worth approximately $37,000. Finally, Larson Financial Group LLC boosted its stake in T. Rowe Price Group by 866.7% in the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager's stock worth $38,000 after purchasing an additional 312 shares during the period. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Performance

TROW stock traded down $2.22 during midday trading on Friday, reaching $106.27. The company's stock had a trading volume of 1,199,985 shares, compared to its average volume of 1,543,894. The stock has a fifty day simple moving average of $113.06 and a two-hundred day simple moving average of $112.27. T. Rowe Price Group, Inc. has a 1 year low of $100.49 and a 1 year high of $125.81. The firm has a market capitalization of $23.66 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 2.85 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its 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 business posted $1.72 earnings per share. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $1.27 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 annualized dividend and a dividend yield of 4.78%. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.24. T. Rowe Price Group's dividend payout ratio (DPR) is currently 54.15%.

Analysts Set New Price Targets

A number of research firms have recently commented on TROW. TD Cowen lowered their target price on T. Rowe Price Group from $120.00 to $116.00 and set a "hold" rating for the company in a research report on Monday, November 4th. StockNews.com downgraded T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Sunday, February 2nd. Evercore ISI increased their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the company an "in-line" rating in a research report on Thursday, November 7th. Barclays lowered 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 report on Thursday, February 6th. Finally, Morgan Stanley increased their target price on T. Rowe Price Group from $129.00 to $132.00 and gave the company an "equal weight" rating in a research report on Friday, December 20th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. Based on data from MarketBeat, T. Rowe Price Group presently has an average rating of "Hold" and an average price target of $115.09.

Insider Activity

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the firm's 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the sale, the vice president now directly owns 119,577 shares of the company's stock, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

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.