Transce3nd LLC Purchases Shares of 4,377 T. Rowe Price Group, Inc. (NASDAQ:TROW)

Transce3nd LLC acquired a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,377 shares of the asset manager's stock, valued at approximately $495,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in T. Rowe Price Group by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager's stock valued at $2,947,559,000 after acquiring an additional 135,203 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in 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 worth $812,798,000 after purchasing an additional 346,369 shares in the last quarter. Geode Capital Management LLC boosted its stake in T. Rowe Price Group by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager's stock worth $635,260,000 after purchasing an additional 116,231 shares during the period. Provident Trust Co. grew its holdings in 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 buying an additional 213,566 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of T. Rowe Price Group by 1.7% in the fourth quarter. Invesco Ltd. now owns 2,397,819 shares of the asset manager's stock worth $271,169,000 after buying an additional 40,514 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

Insiders Place Their Bets

In related news, Director Robert F. Maclellan sold 3,955 shares of the business's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the transaction, the director now owns 42,979 shares of the company's stock, valued at $3,935,157.24. The trade was a 8.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Arif Husain sold 4,112 shares of T. Rowe Price Group 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. This represents a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $86.11 on Friday. The business's 50 day moving average price is $95.65 and its 200-day moving average price is $108.41. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The company has a market cap of $19.14 billion, a price-to-earnings ratio of 9.40, a PEG ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued 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 net margin of 29.61% and a return on equity of 20.83%. During the same quarter in the previous year, the business earned $1.72 EPS. Sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $1.27 dividend. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.24. The ex-dividend date was Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.90%. T. Rowe Price Group's payout ratio is presently 55.46%.

Analyst Ratings Changes

A number of brokerages have issued reports on TROW. Citigroup reduced their price target on shares of T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. StockNews.com lowered T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. Morgan Stanley reduced their price objective 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. JPMorgan Chase & Co. cut their target price on shares of T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a report on Wednesday. Finally, Wells Fargo & Company lowered their price objective on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $96.00.

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.

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