FIL Ltd Increases Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

FIL Ltd increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 89.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,550 shares of the asset manager’s stock after purchasing an additional 3,092 shares during the period. FIL Ltd’s holdings in T. Rowe Price Group were worth $741,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Twin Capital Management Inc. lifted its holdings in shares of T. Rowe Price Group by 0.8% during the 4th quarter. Twin Capital Management Inc. now owns 30,783 shares of the asset manager’s stock valued at $3,481,000 after buying an additional 232 shares during the period. Invesco Ltd. increased its position in T. Rowe Price Group by 1.7% during the fourth quarter. Invesco Ltd. now owns 2,397,819 shares of the asset manager’s stock valued at $271,169,000 after acquiring an additional 40,514 shares during the last quarter. Bank of Montreal Can lifted its holdings in T. Rowe Price Group by 9.7% in the fourth quarter. Bank of Montreal Can now owns 752,530 shares of the asset manager’s stock valued at $85,104,000 after acquiring an additional 66,444 shares during the period. Federated Hermes Inc. boosted its position in T. Rowe Price Group by 139.0% in the fourth quarter. Federated Hermes Inc. now owns 1,979 shares of the asset manager’s stock worth $224,000 after purchasing an additional 1,151 shares during the last quarter. Finally, PARK CIRCLE Co grew its stake in shares of T. Rowe Price Group by 1.9% during the 4th quarter. PARK CIRCLE Co now owns 53,545 shares of the asset manager’s stock valued at $6,055,000 after purchasing an additional 995 shares during the period. Institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TROW. Citigroup lowered their price objective on shares of T. Rowe Price Group from $120.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, March 31st. Evercore ISI dropped their price target on shares of T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating on the stock in a research note on Friday. The Goldman Sachs Group reduced their price objective on T. Rowe Price Group from $103.00 to $89.00 and set a “sell” rating for the company in a research note on Thursday, April 3rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Finally, TD Cowen reduced their price target on T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, April 9th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $101.36.

Insider Buying and Selling at T. Rowe Price Group

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 shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Arif Husain sold 4,112 shares of T. Rowe Price Group 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 completion of the transaction, the vice president now directly owns 36,800 shares of the company’s stock, valued at $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Up 3.3 %

NASDAQ:TROW opened at $88.74 on Monday. The stock has a 50-day moving average price of $97.98 and a 200 day moving average price of $109.16. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The stock has a market capitalization of $19.72 billion, a P/E ratio of 9.69, a P/E/G ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data 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 in the prior year, the firm posted $1.72 EPS. On average, research analysts predict 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. Shareholders of record on Friday, March 14th were paid a $1.27 dividend. The ex-dividend date was Friday, March 14th. This represents a $5.08 annualized dividend and a yield of 5.72%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s payout ratio is presently 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.