Candriam S.C.A. Has $3.32 Million Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Candriam S.C.A. lifted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 24.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,386 shares of the asset manager's stock after acquiring an additional 5,720 shares during the quarter. Candriam S.C.A.'s holdings in T. Rowe Price Group were worth $3,323,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in shares of T. Rowe Price Group by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager's stock valued at $812,798,000 after purchasing an additional 346,369 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in T. Rowe Price Group by 382.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager's stock worth $43,373,000 after buying an additional 315,581 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of T. Rowe Price Group in the 4th quarter valued at approximately $32,332,000. Provident Trust Co. raised its position in shares of T. Rowe Price Group by 8.9% during the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager's stock valued at $295,311,000 after acquiring an additional 213,566 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in T. Rowe Price Group by 70.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 490,059 shares of the asset manager's stock worth $55,421,000 after purchasing an additional 201,802 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

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T. Rowe Price Group Trading Down 3.1 %

NASDAQ:TROW traded down $3.02 during midday trading on Wednesday, hitting $93.28. 2,963,204 shares of the stock were exchanged, compared to its average volume of 1,653,005. The company has a market capitalization of $20.77 billion, a price-to-earnings ratio of 10.18, a P/E/G ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a one year low of $92.79 and a one year high of $125.81. The business has a 50-day moving average price of $109.53 and a two-hundred day moving average price of $111.97.

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 analysts' consensus estimates 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 EPS. Sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders 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 annualized dividend and a dividend yield of 5.45%. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.24. T. Rowe Price Group's dividend payout ratio is currently 55.46%.

Insider Activity

In other news, 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 transaction of $449,318.24. Following the sale, the vice president now directly owns 36,800 shares of the company's stock, valued at $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TROW. StockNews.com cut shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Sunday, February 2nd. Barclays decreased their target price on 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 dropped their price target on T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 6th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Finally, Morgan Stanley dropped 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 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. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $114.09.

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.