UniSuper Management Pty Ltd Increases Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

UniSuper Management Pty Ltd increased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 13.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,092 shares of the asset manager’s stock after purchasing an additional 2,731 shares during the period. UniSuper Management Pty Ltd’s holdings in T. Rowe Price Group were worth $2,611,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Addison Advisors LLC grew its stake in shares of T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after buying an additional 93 shares during the last quarter. Curio Wealth LLC purchased a new position in T. Rowe Price Group in the 4th quarter worth approximately $27,000. Y.D. More Investments Ltd increased its stake in 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 worth $32,000 after purchasing an additional 155 shares during the period. Stonebridge Financial Group LLC bought a new stake in T. Rowe Price Group in the fourth quarter valued at approximately $32,000. Finally, Advantage Trust Co grew its holdings in shares of T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

TROW has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Barclays cut their target price on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. Morgan Stanley lowered their price target on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. 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 report on Thursday, February 6th. Finally, StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $114.09.

T. Rowe Price Group Trading Down 3.3 %

Shares of TROW stock opened at $91.57 on Friday. The company’s fifty day moving average price is $104.61 and its 200-day moving average price is $110.87. The stock has a market cap of $20.35 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 12 month low of $91.10 and a 12 month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced 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 quarter in the previous year, the firm posted $1.72 earnings per share. On average, sell-side analysts forecast 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 disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid 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 dividend on an annualized basis and a yield of 5.55%. T. Rowe Price Group’s payout ratio is presently 55.46%.

Insiders Place Their Bets

In other news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction dated Tuesday, February 11th. The stock was 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 of the company’s stock, valued at $4,021,136. The trade was a 10.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate 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.