T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 5.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 628,288 shares of the asset manager's stock after selling 35,775 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.28% of T. Rowe Price Group worth $71,053,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Iron Horse Wealth Management LLC raised its stake in T. Rowe Price Group by 90.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager's stock valued at $25,000 after purchasing an additional 110 shares during the last quarter. Y.D. More Investments Ltd raised its position in shares of T. Rowe Price Group by 124.0% in the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock valued at $32,000 after buying an additional 155 shares during the last quarter. True Wealth Design LLC acquired a new stake in shares of T. Rowe Price Group in the third quarter valued at about $37,000. Larson Financial Group LLC raised its holdings in T. Rowe Price Group by 866.7% in the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager's stock valued at $38,000 after acquiring an additional 312 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in T. Rowe Price Group in the 3rd quarter valued at about $43,000. Institutional investors and hedge funds own 73.39% of the company's stock.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the business's stock in a transaction 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 completion of the transaction, the vice president now owns 36,800 shares in the company, valued at $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business's stock in a transaction 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 transaction, the vice president now directly owns 119,577 shares of the company's stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

TROW has been the subject of a number of recent research reports. Barclays cut their price objective on shares of T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating for the company in a report on Thursday, February 6th. TD Cowen cut their price target 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. Morgan Stanley raised their target price on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an "equal weight" rating in a research note on Friday, December 20th. JPMorgan Chase & Co. lowered their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating on the stock in a research report on Monday, November 4th. Finally, 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. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group currently has an average rating of "Hold" and a consensus target price of $115.09.

T. Rowe Price Group Stock Up 0.3 %

Shares of TROW traded up $0.32 during trading on Thursday, reaching $107.24. 1,586,365 shares of the company traded hands, compared to its average volume of 1,574,633. T. Rowe Price Group, Inc. has a twelve month low of $100.49 and a twelve month high of $125.81. The stock has a market cap of $23.82 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44. The stock has a 50-day simple moving average of $114.89 and a 200-day simple moving average of $112.44.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted 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 net margin of 29.61% and a return on equity of 20.91%. During the same quarter last year, the company posted $1.72 earnings per share. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.36 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $1.27 dividend. The ex-dividend date is Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.74%. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.24. T. Rowe Price Group's payout ratio is 54.15%.

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.