Wells Fargo & Company MN Buys 52,116 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Wells Fargo & Company MN boosted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,638,867 shares of the asset manager's stock after acquiring an additional 52,116 shares during the period. Wells Fargo & Company MN owned approximately 0.74% of T. Rowe Price Group worth $185,340,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of T. Rowe Price Group during the fourth quarter worth $117,704,000. Amundi increased its holdings in T. Rowe Price Group by 30.1% during the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager's stock worth $194,064,000 after purchasing an additional 397,278 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in T. Rowe Price Group by 5.1% during 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. L.K. Benson & Company P.C. acquired a new stake in shares of T. Rowe Price Group in the 4th quarter valued at about $36,643,000. Finally, Raymond James Financial Inc. bought a new stake in shares of T. Rowe Price Group in the fourth quarter valued at about $32,332,000. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Up 3.3 %

Shares of NASDAQ TROW traded up $2.80 during midday trading on Friday, hitting $88.74. 2,952,480 shares of the company's stock were exchanged, compared to its average volume of 1,437,461. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The company's 50 day moving average price is $97.98 and its 200 day moving average price is $109.16. The firm has a market capitalization of $19.72 billion, a PE ratio of 9.69, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50.

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T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 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 quarter last year, the company earned $1.72 earnings per share. On average, equities research analysts anticipate 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 declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $1.27 dividend. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a yield of 5.72%. The ex-dividend date was Friday, March 14th. T. Rowe Price Group's dividend payout ratio is currently 55.46%.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the transaction, the director now owns 42,979 shares in the company, valued at $3,935,157.24. This trade represents a 8.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Arif Husain sold 4,112 shares of the business's stock in a transaction dated 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 sale, 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 position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wells Fargo & Company reduced their price target on 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. Citigroup reduced their target price on shares of T. Rowe Price Group from $120.00 to $100.00 and set a "neutral" rating for the company in a report on Monday, March 31st. Morgan Stanley decreased their target price on shares of T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating for the company in a research report on Monday, February 24th. Bank of America cut 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, April 3rd. Finally, Evercore ISI decreased their price objective on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a report on Friday. Five analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $102.00.

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.