Pinebridge Investments L.P. Acquires 103,209 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Pinebridge Investments L.P. raised its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 182.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 159,777 shares of the asset manager's stock after purchasing an additional 103,209 shares during the period. Pinebridge Investments L.P. owned 0.07% of T. Rowe Price Group worth $18,069,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. 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 worth $26,000 after purchasing an additional 93 shares in the last quarter. Curio Wealth LLC bought a new stake in T. Rowe Price Group in the 4th quarter worth about $27,000. Y.D. More Investments Ltd raised its position 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 buying an additional 155 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of T. Rowe Price Group during the 4th quarter valued at about $32,000. Finally, Advantage Trust Co boosted its holdings in shares of T. Rowe Price Group by 48.8% during the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock valued at $34,000 after acquiring an additional 100 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Arif Husain sold 4,112 shares of the business'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 sale, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert F. Maclellan sold 3,955 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the transaction, the director now owns 42,979 shares of the company's stock, valued at $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 company insiders.

T. Rowe Price Group Trading Up 0.3 %

T. Rowe Price Group stock traded up $0.29 during mid-day trading on Monday, hitting $88.73. The stock had a trading volume of 1,251,083 shares, compared to its average volume of 1,454,515. The firm's 50 day moving average is $93.61 and its 200 day moving average is $107.71. The firm has a market capitalization of $19.72 billion, a P/E ratio of 9.69, a P/E/G ratio of 2.86 and a beta of 1.50. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81.

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 in the previous year, the firm posted $1.72 EPS. As a group, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share 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. Stockholders of record on Friday, March 14th were issued a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 5.73%. The ex-dividend date was Friday, March 14th. This is an increase from T. Rowe Price Group's previous quarterly dividend of $1.24. T. Rowe Price Group's payout ratio is 55.46%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TROW shares. The Goldman Sachs Group dropped their target price on shares of T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating on the stock in a report on Monday, April 14th. Citigroup cut their price objective on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Morgan Stanley lowered their target price on T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating on the stock in a report on Monday, February 24th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Finally, Barclays reduced their price target on shares of T. Rowe Price Group from $105.00 to $85.00 and set an "underweight" rating for the company in a research report on Wednesday, April 16th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $96.00.

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.