UniSuper Management Pty Ltd Boosts Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

UniSuper Management Pty Ltd increased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 13.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,092 shares of the asset manager's stock after acquiring an additional 2,731 shares during the quarter. UniSuper Management Pty Ltd's holdings in T. Rowe Price Group were worth $2,611,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of T. Rowe Price Group by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager's stock worth $2,947,559,000 after purchasing an additional 135,203 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of T. Rowe Price Group by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager's stock valued at $812,798,000 after acquiring an additional 346,369 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of T. Rowe Price Group by 0.5% in the third quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager's stock valued at $598,801,000 after acquiring an additional 25,481 shares in the last quarter. Provident Trust Co. boosted its stake in shares of T. Rowe Price Group by 8.9% in the fourth quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager's stock worth $295,311,000 after acquiring an additional 213,566 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of T. Rowe Price Group by 0.5% during the fourth quarter. Fisher Asset Management LLC now owns 1,870,446 shares of the asset manager's stock worth $211,529,000 after purchasing an additional 8,992 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TROW shares. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set 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. Bank of America lowered their price target on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a research report on Thursday. Wells Fargo & Company cut their price objective on shares of T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating for the company in a report on Thursday, February 6th. StockNews.com lowered T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. Finally, Citigroup dropped their target price on T. Rowe Price Group from $120.00 to $100.00 and set a "neutral" rating for the company in a report on Monday. Five analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $109.58.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Arif Husain sold 4,112 shares of the company'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 owns 36,800 shares of the company's stock, valued at approximately $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction 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 sale, the director now owns 42,979 shares in the company, valued at approximately $3,935,157.24. The trade was a 8.43 % 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 corporate insiders.

T. Rowe Price Group Stock Down 8.5 %

TROW stock traded down $8.00 during mid-day trading on Thursday, hitting $85.90. 1,007,150 shares of the company were exchanged, compared to its average volume of 1,367,643. T. Rowe Price Group, Inc. has a 12-month low of $85.76 and a 12-month high of $125.81. The firm has a market capitalization of $19.09 billion, a P/E ratio of 9.38, a PEG ratio of 2.86 and a beta of 1.46. The business has a fifty day simple moving average of $103.36 and a 200-day simple moving average of $110.62.

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

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $1.27 per share. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Friday, March 14th. This represents a $5.08 annualized dividend and a yield of 5.91%. T. Rowe Price Group's dividend payout ratio is presently 55.46%.

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.