Royal London Asset Management Ltd. Purchases 3,440 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Royal London Asset Management Ltd. increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,003 shares of the asset manager's stock after purchasing an additional 3,440 shares during the quarter. Royal London Asset Management Ltd.'s holdings in T. Rowe Price Group were worth $10,518,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TROW. Nilsine Partners LLC lifted its stake in T. Rowe Price Group by 75.5% during the fourth quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager's stock worth $623,000 after purchasing an additional 2,370 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of T. Rowe Price Group by 2.8% during the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager's stock valued at $30,062,000 after buying an additional 7,503 shares in the last quarter. Amundi boosted its stake in shares of T. Rowe Price Group by 30.1% during 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 period. Commonwealth Equity Services LLC increased its position in T. Rowe Price Group by 5.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager's stock worth $40,436,000 after purchasing an additional 20,062 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in T. Rowe Price Group by 3.8% in the third quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager's stock valued at $3,267,000 after acquiring an additional 1,100 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Keefe, Bruyette & Woods reiterated 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 note on Thursday, February 6th. Barclays cut their price target on shares of T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating for the company in a research note on Thursday, February 6th. Wells Fargo & Company lowered their price objective on T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. StockNews.com downgraded T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Sunday, February 2nd. Finally, Morgan Stanley lowered their price target on T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating on the stock in a research report on Monday, February 24th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $114.09.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock traded down $1.03 during midday trading on Wednesday, reaching $94.44. The stock had a trading volume of 1,358,808 shares, compared to its average volume of 1,299,869. T. Rowe Price Group, Inc. has a 1-year low of $91.37 and a 1-year high of $125.81. The firm's fifty day simple moving average is $105.77 and its 200-day simple moving average is $111.13. The stock has a market capitalization of $21.03 billion, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46.

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 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 business posted $1.72 earnings per share. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.38%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.24. T. Rowe Price Group's dividend payout ratio is presently 55.46%.

Insiders Place Their Bets

In other news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group 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 in the company, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company's stock.

T. Rowe Price Group Company 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.