Pictet Asset Management Holding SA Has $23.97 Million Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Pictet Asset Management Holding SA grew its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 24.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 211,968 shares of the asset manager's stock after acquiring an additional 41,802 shares during the quarter. Pictet Asset Management Holding SA owned 0.10% of T. Rowe Price Group worth $23,971,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of TROW. Norges Bank bought a new position in T. Rowe Price Group during the 4th quarter worth about $117,704,000. Amundi raised its position in T. Rowe Price Group by 30.1% in the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager's stock valued at $194,064,000 after buying an additional 397,278 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in T. Rowe Price Group by 5.1% in 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. L.K. Benson & Company P.C. acquired a new position in T. Rowe Price Group during the 4th quarter worth approximately $36,643,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in shares of 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 worth $43,373,000 after acquiring an additional 315,581 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

Insider Activity at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was 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 directly owns 36,800 shares in the company, valued at $4,021,136. This represents a 10.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group 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 completion of the transaction, the director now owns 42,979 shares in the company, valued at approximately $3,935,157.24. This represents a 8.43 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

T. Rowe Price Group Trading Down 4.2 %

NASDAQ TROW traded down $3.62 during trading on Friday, reaching $82.60. The company's stock had a trading volume of 4,563,847 shares, compared to its average volume of 1,393,665. The firm has a 50 day moving average price of $102.18 and a 200 day moving average price of $110.31. T. Rowe Price Group, Inc. has a 12 month low of $82.34 and a 12 month high of $125.81. The firm has a market capitalization of $18.36 billion, a price-to-earnings ratio of 9.02, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (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 prior year, the firm earned $1.72 earnings per share. On average, equities 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 business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $1.27 per share. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a dividend yield of 6.15%. The ex-dividend date of this dividend was Friday, March 14th. T. Rowe Price Group's dividend payout ratio is 55.46%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Bank of America decreased their price target on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a research note on Thursday. 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. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Morgan Stanley dropped their price objective 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, Citigroup reduced their target price on T. Rowe Price Group from $120.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, March 31st. Five investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $108.50.

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.