500 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Acquired by Summit Securities Group LLC

Summit Securities Group LLC purchased a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 500 shares of the asset manager’s stock, valued at approximately $57,000.

Several other hedge funds also recently added to or reduced their stakes in TROW. Vanguard Group Inc. boosted its holdings in shares of T. Rowe Price Group by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager’s stock valued at $2,947,559,000 after buying an additional 135,203 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in T. Rowe Price Group by 5.1% in 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 boosted its stake in 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. grew its holdings in shares of T. Rowe Price Group by 8.9% during the fourth quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock worth $295,311,000 after purchasing 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 hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction that occurred on 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 in the company, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TROW shares. Morgan Stanley decreased their target price on 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. Wells Fargo & Company lowered their target price on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Finally, Barclays dropped 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 research note on Thursday, February 6th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $114.09.

T. Rowe Price Group Trading Down 3.3 %

Shares of TROW opened at $91.57 on Monday. The stock’s 50 day moving average is $104.61 and its two-hundred day moving average is $110.92. T. Rowe Price Group, Inc. has a twelve month low of $90.92 and a twelve month high of $125.81. The firm has a market capitalization of $20.35 billion, a PE ratio of 10.00, a P/E/G ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share 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 period in the previous year, the company earned $1.72 earnings per share. On average, sell-side analysts predict 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 disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $1.27 dividend. This is a boost 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 annualized dividend and a dividend yield of 5.55%. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.46%.

About T. Rowe Price Group

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.