Pictet Asset Management Holding SA Raises Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Pictet Asset Management Holding SA raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 24.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 211,968 shares of the asset manager's stock after purchasing an additional 41,802 shares during the period. Pictet Asset Management Holding SA owned 0.10% of T. Rowe Price Group worth $23,971,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Glenview Trust co grew its stake in shares of T. Rowe Price Group by 2.2% during the fourth quarter. Glenview Trust co now owns 4,318 shares of the asset manager's stock worth $488,000 after purchasing an additional 92 shares in the last quarter. MCF Advisors LLC boosted its position in shares of T. Rowe Price Group by 1.5% during the 4th quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager's stock worth $704,000 after acquiring an additional 93 shares in the last quarter. Addison Advisors LLC increased its holdings in shares of T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock valued at $26,000 after acquiring an additional 93 shares during the last quarter. Brooklyn Investment Group increased its holdings in shares of T. Rowe Price Group by 24.6% in the 4th quarter. Brooklyn Investment Group now owns 497 shares of the asset manager's stock valued at $56,000 after acquiring an additional 98 shares during the last quarter. Finally, Advantage Trust Co lifted its stake in T. Rowe Price Group by 48.8% during 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 last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

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T. Rowe Price Group Price Performance

Shares of TROW stock traded down $7.68 during mid-day trading on Thursday, hitting $86.22. The stock had a trading volume of 3,284,904 shares, compared to its average volume of 1,376,128. T. Rowe Price Group, Inc. has a fifty-two week low of $85.76 and a fifty-two week high of $125.81. The company's 50-day simple moving average is $103.36 and its 200-day simple moving average is $110.62. The firm has a market cap of $19.16 billion, a PE ratio of 9.41, a PEG ratio of 2.86 and a beta of 1.46.

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 (EPS) for the quarter, missing the consensus estimate 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 last year, the firm posted $1.72 EPS. On average, 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 announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given 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 yield of 5.89%. The ex-dividend date was Friday, March 14th. T. Rowe Price Group's dividend payout ratio is presently 55.46%.

Analyst Ratings Changes

Several equities analysts have commented on TROW shares. 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. Barclays dropped their target price on shares of T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating on the stock in a research report on Thursday, February 6th. Morgan Stanley decreased their price objective on shares of T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating for the company in a research note on Monday, February 24th. Citigroup cut their target price on T. Rowe Price Group from $120.00 to $100.00 and set a "neutral" rating on the stock in a research report on Monday. Finally, Wells Fargo & Company decreased their target price on T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Five research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group presently has an average rating of "Hold" and a consensus price target of $108.50.

Insider Buying and Selling

In related news, VP Arif Husain sold 4,112 shares of the firm's 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 sale, the vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group 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 owns 42,979 shares in the company, valued at approximately $3,935,157.24. This trade represents a 8.43 % 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 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.