T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by Provident Trust Co.

Provident Trust Co. boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 8.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,611,294 shares of the asset manager's stock after acquiring an additional 213,566 shares during the quarter. T. Rowe Price Group comprises about 5.1% of Provident Trust Co.'s holdings, making the stock its 11th largest holding. Provident Trust Co. owned approximately 1.18% of T. Rowe Price Group worth $295,311,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Iron Horse Wealth Management LLC increased its position in shares of T. Rowe Price Group by 90.9% during the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager's stock worth $25,000 after acquiring an additional 110 shares during the last quarter. Y.D. More Investments Ltd grew its stake in T. Rowe Price Group by 124.0% during 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 in the last quarter. Stonebridge Financial Group LLC purchased a new stake in T. Rowe Price Group during the 4th quarter worth approximately $32,000. True Wealth Design LLC acquired a new position in shares of T. Rowe Price Group in the 3rd quarter valued at approximately $37,000. Finally, Larson Financial Group LLC boosted its stake in shares of T. Rowe Price Group by 866.7% during the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager's stock valued at $38,000 after buying an additional 312 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TROW shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a "hold" rating in a research note on Monday, November 11th. Morgan Stanley upped their target price on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the company an "equal weight" rating in a research note on Friday, December 20th. StockNews.com cut shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Sunday, February 2nd. TD Cowen lowered their price objective on T. Rowe Price Group from $120.00 to $116.00 and set a "hold" rating for the company in a report on Monday, November 4th. Finally, Evercore ISI upped their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company an "in-line" rating in a research note on Thursday, November 7th. Four 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, the company currently has a consensus rating of "Hold" and a consensus target price of $115.09.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock traded down $2.22 on Friday, reaching $106.27. 1,199,985 shares of the company were exchanged, compared to its average volume of 1,543,894. The firm has a market cap of $23.66 billion, a price-to-earnings ratio of 11.60, a P/E/G ratio of 2.85 and a beta of 1.44. T. Rowe Price Group, Inc. has a 1-year low of $100.49 and a 1-year high of $125.81. The company's 50-day moving average is $112.79 and its two-hundred day moving average is $112.29.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share 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 business earned $1.72 earnings per share. As a group, sell-side 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $1.27 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from T. Rowe Price Group's previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a yield of 4.78%. T. Rowe Price Group's dividend payout ratio (DPR) is currently 54.15%.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm's stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the sale, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Arif Husain sold 4,112 shares of the business's stock in a transaction on 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 $4,021,136. This trade represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company 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.