T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Whittier Trust Co.

Whittier Trust Co. trimmed its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 61.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,827 shares of the asset manager's stock after selling 2,895 shares during the quarter. Whittier Trust Co.'s holdings in T. Rowe Price Group were worth $207,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Northwest & Ethical Investments L.P. purchased a new stake in T. Rowe Price Group in the 4th quarter valued at about $2,279,000. Blueshift Asset Management LLC increased its holdings in T. Rowe Price Group by 64.6% during the 4th quarter. Blueshift Asset Management LLC now owns 7,288 shares of the asset manager's stock worth $824,000 after purchasing an additional 2,859 shares during the period. Royal London Asset Management Ltd. lifted its holdings in shares of T. Rowe Price Group by 3.8% in the 4th quarter. Royal London Asset Management Ltd. now owns 93,003 shares of the asset manager's stock worth $10,518,000 after buying an additional 3,440 shares during the period. L.K. Benson & Company P.C. bought a new position in shares of T. Rowe Price Group during the 4th quarter worth $36,643,000. Finally, Vinva Investment Management Ltd increased its stake in shares of T. Rowe Price Group by 6.1% during the fourth quarter. Vinva Investment Management Ltd now owns 34,866 shares of the asset manager's stock valued at $3,970,000 after buying an additional 1,990 shares during the period. 73.39% of the stock is currently owned by institutional investors.

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T. Rowe Price Group Stock Up 0.3 %

Shares of T. Rowe Price Group stock traded up $0.26 on Thursday, reaching $94.70. 1,648,753 shares of the stock were exchanged, compared to its average volume of 1,302,938. The business has a 50 day moving average price of $105.39 and a two-hundred day moving average price of $111.02. The firm has a market capitalization of $21.08 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a twelve month low of $91.37 and a twelve month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results 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 return on equity of 20.83% and a net margin of 29.61%. During the same period last year, the business earned $1.72 EPS. Research analysts forecast 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 will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid 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 dividend yield of 5.36%. The ex-dividend date of this dividend is Friday, March 14th. T. Rowe Price Group's payout ratio is currently 55.46%.

Wall Street Analysts Forecast Growth

TROW has been the topic of several recent research reports. Morgan Stanley dropped their target price on shares of T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating on the stock in a report on Monday, February 24th. Barclays cut their price objective on shares of T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating on the stock in a report on Thursday, February 6th. StockNews.com cut T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Sunday, February 2nd. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Finally, Wells Fargo & Company decreased their price target on shares of T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $114.09.

Insider Buying and Selling

In other news, VP Arif Husain sold 4,112 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 36,800 shares in the company, valued at $4,021,136. This trade represents a 10.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.00% of the stock is currently owned by insiders.

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.