Meeder Asset Management Inc. Sells 3,458 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Meeder Asset Management Inc. cut its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 37.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,769 shares of the asset manager's stock after selling 3,458 shares during the period. Meeder Asset Management Inc.'s holdings in T. Rowe Price Group were worth $652,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TROW. Addison Advisors LLC lifted its holdings in T. Rowe Price Group by 67.4% in the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock worth $26,000 after buying an additional 93 shares during the period. Curio Wealth LLC bought a new position in shares of T. Rowe Price Group in the 4th quarter worth approximately $27,000. Y.D. More Investments Ltd lifted its stake in shares of 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 valued at $32,000 after purchasing an additional 155 shares during the period. Stonebridge Financial Group LLC bought a new stake in shares of T. Rowe Price Group during the fourth quarter valued at approximately $32,000. Finally, Advantage Trust Co grew its stake in T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock worth $34,000 after purchasing an additional 100 shares during the period. Institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Trading Down 8.2 %

TROW traded down $7.68 during trading on Thursday, hitting $86.22. 3,284,963 shares of the company's stock traded hands, compared to its average volume of 1,376,129. The stock has a market capitalization of $19.16 billion, a price-to-earnings ratio of 9.41, a PEG ratio of 2.86 and a beta of 1.46. The company's 50 day simple moving average is $103.36 and its two-hundred day simple moving average is $110.62. T. Rowe Price Group, Inc. has a 12-month low of $85.76 and a 12-month high of $125.81.

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T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing the consensus estimate 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 period in the previous year, the firm earned $1.72 EPS. On average, equities analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current 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 of this dividend was Friday, March 14th. This is a positive change 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 5.89%. T. Rowe Price Group's payout ratio is currently 55.46%.

Analyst Upgrades and Downgrades

TROW has been the subject of several recent research reports. Bank of America lowered their price objective on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a research report on Thursday. StockNews.com lowered shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. The Goldman Sachs Group decreased their target price on shares of T. Rowe Price Group from $103.00 to $89.00 and set a "sell" rating for the company in a research note on Thursday. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Finally, Citigroup reduced their price objective on T. Rowe Price Group from $120.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday. Five investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $108.50.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the 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 transaction, the vice president now owns 36,800 shares of the company's stock, valued at approximately $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the business's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the sale, the director now owns 42,979 shares of the company's stock, 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. 2.00% of the stock is owned by insiders.

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.