Pictet Asset Management Holding SA Buys 41,802 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Pictet Asset Management Holding SA increased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 24.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 211,968 shares of the asset manager’s stock after purchasing an additional 41,802 shares during the quarter. Pictet Asset Management Holding SA owned about 0.10% of T. Rowe Price Group worth $23,971,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Townsquare Capital LLC lifted its holdings in shares of T. Rowe Price Group by 6.6% in the third quarter. Townsquare Capital LLC now owns 4,839 shares of the asset manager’s stock worth $527,000 after buying an additional 299 shares in the last quarter. Bridgewater Associates LP lifted its stake in T. Rowe Price Group by 794.1% in the 3rd quarter. Bridgewater Associates LP now owns 15,879 shares of the asset manager’s stock worth $1,730,000 after purchasing an additional 14,103 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of T. Rowe Price Group by 6.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,737 shares of the asset manager’s stock valued at $6,725,000 after purchasing an additional 3,969 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in shares of T. Rowe Price Group by 2.4% in the third quarter. Public Sector Pension Investment Board now owns 38,778 shares of the asset manager’s stock worth $4,224,000 after purchasing an additional 900 shares during the period. Finally, Martingale Asset Management L P purchased a new stake in shares of T. Rowe Price Group in the third quarter worth $446,000. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $91.87 on Tuesday. T. Rowe Price Group, Inc. has a fifty-two week low of $89.70 and a fifty-two week high of $125.81. The stock has a 50 day moving average price of $104.18 and a two-hundred day moving average price of $110.82. The company has a market capitalization of $20.42 billion, a P/E ratio of 10.03, a PEG ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last announced 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 20.83% and a net margin of 29.61%. During the same quarter in the prior year, the business posted $1.72 earnings per share. As a group, equities analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $1.27 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $5.08 annualized dividend and a yield of 5.53%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.46%.

Insider Transactions at T. Rowe Price Group

In other news, VP Arif Husain sold 4,112 shares of the firm’s 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 sale, the vice president now directly owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TROW. Morgan Stanley decreased their target price on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Wells Fargo & Company cut their price target on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Finally, Citigroup cut their target price on shares of T. Rowe Price Group from $120.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and an average price target of $111.82.

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.