Brandywine Global Investment Management LLC Boosts Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Brandywine Global Investment Management LLC lifted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 43.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 179,957 shares of the asset manager’s stock after acquiring an additional 54,640 shares during the period. Brandywine Global Investment Management LLC owned 0.08% of T. Rowe Price Group worth $20,351,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Summit Securities Group LLC acquired a new position in T. Rowe Price Group in the fourth quarter valued at $57,000. Schroder Investment Management Group increased its stake in T. Rowe Price Group by 49.4% during the fourth quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager’s stock worth $25,229,000 after acquiring an additional 73,307 shares during the last quarter. Strategy Asset Managers LLC raised its holdings in shares of T. Rowe Price Group by 5.0% in the 4th quarter. Strategy Asset Managers LLC now owns 2,277 shares of the asset manager’s stock worth $258,000 after purchasing an additional 108 shares during the period. Allstate Corp acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at about $748,000. Finally, Maridea Wealth Management LLC purchased a new stake in shares of T. Rowe Price Group during the 4th quarter worth about $376,000. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Down 3.3 %

Shares of TROW opened at $91.57 on Monday. The firm has a market cap of $20.35 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 2.86 and a beta of 1.46. The business’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 52-week low of $90.92 and a 52-week high of $125.81.

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 (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 firm earned $1.72 earnings per share. On average, equities analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $1.27 per share. This is a boost 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 dividend yield of 5.55%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.46%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TROW. Barclays reduced their price target on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. Wells Fargo & Company reduced 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 report on Thursday, February 6th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. 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. Finally, StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $114.09.

Insider Buying and Selling

In related news, VP Arif Husain sold 4,112 shares of the company’s 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 sale, the vice president now directly owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. This represents a 10.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

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.