Rhumbline Advisers Cuts Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Rhumbline Advisers decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 437,047 shares of the asset manager's stock after selling 7,741 shares during the period. Rhumbline Advisers owned approximately 0.20% of T. Rowe Price Group worth $49,426,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Nilsine Partners LLC grew its holdings 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 buying an additional 2,370 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in T. Rowe Price Group by 2.8% during the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager's stock worth $30,062,000 after acquiring an additional 7,503 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of T. Rowe Price Group by 3.8% in the 3rd quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager's stock worth $3,267,000 after acquiring an additional 1,100 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of T. Rowe Price Group in the third quarter valued at about $516,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of T. Rowe Price Group by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager's stock valued at $745,169,000 after purchasing an additional 231,286 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Stock Down 2.0 %

TROW traded down $2.22 during trading hours on Friday, hitting $106.27. The stock had a trading volume of 1,199,985 shares, compared to its average volume of 1,543,894. The stock has a market cap of $23.66 billion, a PE ratio of 11.60, a price-to-earnings-growth 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 fifty day simple moving average is $112.79 and its 200 day simple moving average is $112.29.

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 return on equity of 20.83% and a net margin of 29.61%. During the same quarter in the previous year, the company posted $1.72 earnings per share. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business 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. The ex-dividend date is Friday, March 14th. This represents a $5.08 annualized dividend and a dividend yield of 4.78%. This is an increase from T. Rowe Price Group's previous quarterly dividend of $1.24. T. Rowe Price Group's dividend payout ratio is currently 54.15%.

Insider Transactions at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company's stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the sale, the vice president now owns 119,577 shares of the company's stock, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Arif Husain sold 4,112 shares of the firm's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the transaction, the vice president now directly owns 36,800 shares of the company's stock, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TROW shares. Barclays decreased 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 research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft increased their price target on T. Rowe Price Group from $115.00 to $120.00 and gave the company a "hold" rating in a research report on Monday, November 11th. Evercore ISI lifted their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an "in-line" rating in a report on Thursday, November 7th. Morgan Stanley upped their price objective on 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. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $115.09.

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.