Schroder Investment Management Group Buys 73,307 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Schroder Investment Management Group boosted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 49.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 221,579 shares of the asset manager’s stock after acquiring an additional 73,307 shares during the period. Schroder Investment Management Group owned 0.10% of T. Rowe Price Group worth $25,229,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Addison Advisors LLC boosted its holdings in T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after buying an additional 93 shares during the period. Curio Wealth LLC bought a new position in shares of T. Rowe Price Group in the fourth quarter worth about $27,000. Y.D. More Investments Ltd grew its position in shares of T. Rowe Price Group by 124.0% during the fourth 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 in the last quarter. Stonebridge Financial Group LLC bought a new stake in T. Rowe Price Group during the 4th quarter valued at approximately $32,000. Finally, Advantage Trust Co lifted its holdings in T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after purchasing an additional 100 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the sale, the vice president now owns 36,800 shares in the company, valued at $4,021,136. This trade represents a 10.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the sale, the director now directly owns 42,979 shares of the company’s stock, valued at approximately $3,935,157.24. This trade represents a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $93.90 on Thursday. The firm has a market capitalization of $20.87 billion, a P/E ratio of 10.25, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 1-year low of $89.70 and a 1-year high of $125.81. The company’s 50-day moving average is $103.36 and its 200 day moving average is $110.62.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same period in the prior year, the firm posted $1.72 EPS. Research analysts anticipate 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 firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 5.41%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Friday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.46%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TROW shares. Citigroup cut their price objective on shares of T. Rowe Price Group from $120.00 to $100.00 and set a “neutral” rating for the company in a report on Monday. Wells Fargo & Company dropped their price objective on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Finally, Morgan Stanley lowered their price objective on shares of 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. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and a consensus 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.