T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 437,047 shares of the asset manager’s stock after selling 7,741 shares during the period. Rhumbline Advisers owned approximately 0.20% of T. Rowe Price Group worth $49,426,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Nilsine Partners LLC increased its holdings in shares of T. Rowe Price Group by 75.5% in the fourth quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock valued at $623,000 after purchasing an additional 2,370 shares during the period. Principal Financial Group Inc. grew its holdings in T. Rowe Price Group by 2.8% during the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock worth $30,062,000 after acquiring an additional 7,503 shares during the period. Janus Henderson Group PLC grew its holdings in T. Rowe Price Group by 3.8% during the third quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock worth $3,267,000 after acquiring an additional 1,100 shares during the period. Aigen Investment Management LP acquired a new stake in T. Rowe Price Group during the third quarter worth about $516,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in T. Rowe Price Group by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after acquiring an additional 231,286 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the transaction, the vice president now directly owns 36,800 shares in the company, valued at $4,021,136. This trade represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $107.17 on Tuesday. The business’s 50 day moving average price is $114.21 and its 200-day moving average price is $112.35. The firm has a market capitalization of $23.81 billion, a PE ratio of 11.70, a P/E/G ratio of 1.70 and a beta of 1.44. T. Rowe Price Group, Inc. has a 1 year low of $100.49 and a 1 year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.61%. During the same period last year, the business earned $1.72 earnings per share. As a group, analysts expect that T. Rowe Price Group, Inc. will post 9.36 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $1.27 dividend. The ex-dividend date is Friday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.74%. T. Rowe Price Group’s payout ratio is currently 54.15%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TROW. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Evercore ISI raised their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. TD Cowen dropped their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. lowered their price target on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group presently has an average rating of “Hold” and a consensus target price of $115.09.

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.