WCM Investment Management LLC Buys 23,023 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

WCM Investment Management LLC grew its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 153.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,995 shares of the asset manager's stock after buying an additional 23,023 shares during the period. WCM Investment Management LLC's holdings in T. Rowe Price Group were worth $4,326,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Iron Horse Wealth Management LLC boosted its stake in T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager's stock worth $25,000 after acquiring an additional 110 shares during the last quarter. Y.D. More Investments Ltd boosted its position in shares of T. Rowe Price Group by 124.0% during the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock worth $32,000 after purchasing an additional 155 shares in the last quarter. True Wealth Design LLC acquired a new position in shares of T. Rowe Price Group in the 3rd quarter valued at $37,000. Larson Financial Group LLC increased its position in shares of 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 buying an additional 312 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in T. Rowe Price Group during the 3rd quarter worth $43,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company's stock in a transaction on Tuesday, December 10th. The shares were 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 in the company, valued at $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.00% of the company's stock.

T. Rowe Price Group Stock Performance

TROW traded down $0.70 on Tuesday, hitting $108.92. 316,036 shares of the company were exchanged, compared to its average volume of 1,545,265. The stock's fifty day moving average is $115.50 and its 200-day moving average is $112.50. T. Rowe Price Group, Inc. has a 12 month low of $100.49 and a 12 month high of $125.81. The company has a market cap of $24.20 billion, a PE ratio of 11.89, a PEG ratio of 1.70 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings data 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 20.91% and a net margin of 29.61%. During the same period in the prior year, the firm posted $1.72 EPS. As a group, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.36 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 4.66%. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.24. T. Rowe Price Group's dividend payout ratio (DPR) is currently 54.15%.

Analyst Ratings Changes

A number of research firms have issued reports on TROW. Evercore ISI boosted their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the company an "in-line" rating in a research note on Thursday, November 7th. Morgan Stanley boosted 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 report on Friday, December 20th. StockNews.com downgraded shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Sunday, February 2nd. Barclays reduced 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 report on Thursday, February 6th. Finally, TD Cowen cut their price objective on shares of T. Rowe Price Group from $120.00 to $116.00 and set a "hold" rating on the stock in a research report on Monday, November 4th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average 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.