Prudential Financial Inc. Trims Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Prudential Financial Inc. lowered its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 10.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 137,213 shares of the asset manager’s stock after selling 15,811 shares during the quarter. Prudential Financial Inc. owned 0.06% of T. Rowe Price Group worth $15,517,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Larson Financial Group LLC grew its holdings in shares of T. Rowe Price Group by 866.7% in the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after purchasing an additional 312 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in T. Rowe Price Group by 11.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 27,122 shares of the asset manager’s stock valued at $2,954,000 after buying an additional 2,688 shares during the period. Private Trust Co. NA grew its stake in T. Rowe Price Group by 33.2% in the 3rd quarter. Private Trust Co. NA now owns 3,819 shares of the asset manager’s stock worth $416,000 after acquiring an additional 952 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of T. Rowe Price Group during the third quarter worth approximately $3,321,000. Finally, Brooklyn Investment Group bought a new stake in shares of T. Rowe Price Group during the third quarter valued at approximately $43,000. Institutional investors own 73.39% of the company’s stock.

Insider Activity

In other news, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Up 0.3 %

NASDAQ:TROW opened at $94.70 on Friday. The firm has a 50 day moving average of $105.04 and a 200 day moving average of $110.90. T. Rowe Price Group, Inc. has a 52 week low of $91.37 and a 52 week high of $125.81. The stock has a market capitalization of $21.08 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data 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 return on equity of 20.83% and a net margin of 29.61%. During the same period last year, the firm posted $1.72 earnings per share. As a group, analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm 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 dividend of $1.27 per share. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date is Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.36%. T. Rowe Price Group’s payout ratio is presently 55.46%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TROW shares. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Morgan Stanley decreased their price objective on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Wells Fargo & Company dropped 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. Finally, Barclays reduced their price target on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $114.09.

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.