Donaldson Capital Management LLC Raises Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Donaldson Capital Management LLC lifted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 397,657 shares of the asset manager’s stock after purchasing an additional 8,641 shares during the quarter. T. Rowe Price Group comprises approximately 1.7% of Donaldson Capital Management LLC’s holdings, making the stock its 25th largest holding. Donaldson Capital Management LLC owned approximately 0.18% of T. Rowe Price Group worth $44,971,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Addison Advisors LLC grew its holdings in T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 93 shares in the last quarter. Y.D. More Investments Ltd raised its position in shares of T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 155 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of T. Rowe Price Group during the 4th quarter valued at approximately $32,000. Advantage Trust Co grew its position in shares of T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after buying an additional 100 shares in the last quarter. Finally, True Wealth Design LLC bought a new stake in shares of T. Rowe Price Group in the third quarter worth $37,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Activity

In related news, VP Arif Husain sold 4,112 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the transaction, the vice president now owns 36,800 shares in the company, valued at $4,021,136. This represents a 10.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on TROW shares. Morgan Stanley cut their price target 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. Deutsche Bank Aktiengesellschaft increased their price target on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Wells Fargo & Company cut their price objective on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Finally, StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $114.09.

T. Rowe Price Group Price Performance

Shares of TROW opened at $98.77 on Tuesday. T. Rowe Price Group, Inc. has a 12 month low of $97.26 and a 12 month high of $125.81. The stock has a fifty day moving average price of $109.86 and a 200 day moving average price of $112.06. The company has a market cap of $21.99 billion, a P/E ratio of 10.78, a PEG ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly 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 quarter in the prior year, the business posted $1.72 EPS. As a group, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 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. Shareholders of record on Friday, March 14th will be paid a $1.27 dividend. The ex-dividend date is Friday, March 14th. This represents a $5.08 annualized dividend and a dividend yield of 5.14%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.46%.

T. Rowe Price Group Company 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.