Zurcher Kantonalbank Zurich Cantonalbank Has $5.49 Million Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 21.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,555 shares of the asset manager's stock after selling 13,182 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in T. Rowe Price Group were worth $5,491,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TROW. Atria Investments Inc grew its holdings in shares of T. Rowe Price Group by 7.0% during the third quarter. Atria Investments Inc now owns 6,103 shares of the asset manager's stock valued at $665,000 after buying an additional 400 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of T. Rowe Price Group by 1.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 664,063 shares of the asset manager's stock valued at $72,336,000 after buying an additional 9,924 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of T. Rowe Price Group during the third quarter valued at $516,000. MQS Management LLC purchased a new position in shares of T. Rowe Price Group during the third quarter valued at $283,000. Finally, Main Street Financial Solutions LLC grew its holdings in shares of T. Rowe Price Group by 3.5% during the third quarter. Main Street Financial Solutions LLC now owns 3,676 shares of the asset manager's stock valued at $400,000 after buying an additional 124 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling at T. Rowe Price Group

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 completion of the sale, the vice president now directly owns 36,800 shares of the company's stock, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company's stock.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock traded up $1.00 during midday trading on Friday, hitting $93.04. 2,552,180 shares of the company were exchanged, compared to its average volume of 1,704,732. The firm has a market cap of $20.71 billion, a P/E ratio of 10.16, a PEG ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 52 week low of $91.37 and a 52 week high of $125.81. The firm has a 50 day simple moving average of $108.27 and a 200-day simple moving average of $111.62.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued 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 company posted $1.72 earnings per share. Equities research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share 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. Shareholders of record on Friday, March 14th will be given a $1.27 dividend. This is an increase from T. Rowe Price Group's previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 annualized dividend and a yield of 5.46%. T. Rowe Price Group's payout ratio is presently 55.46%.

Analysts Set New Price Targets

A number of brokerages have commented on TROW. Wells Fargo & Company lowered their target price 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 note on Sunday, February 2nd. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $113.00 target price (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Barclays lowered their target price on T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating on the stock in a research note on Thursday, February 6th. Finally, Morgan Stanley lowered 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 note on Monday, February 24th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average 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.