T. Rowe Price Group, Inc. (NASDAQ:TROW) Holdings Lowered by Investors Research Corp

Investors Research Corp lowered its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 15.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,767 shares of the asset manager’s stock after selling 1,025 shares during the quarter. Investors Research Corp’s holdings in T. Rowe Price Group were worth $621,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in T. Rowe Price Group in the 4th quarter worth approximately $208,014,000. International Assets Investment Management LLC raised its holdings in shares of T. Rowe Price Group by 8,968.6% during the fourth quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager’s stock worth $97,152,000 after acquiring an additional 892,198 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of T. Rowe Price Group by 3.2% during the first quarter. Vanguard Group Inc. now owns 20,183,563 shares of the asset manager’s stock worth $3,051,553,000 after acquiring an additional 625,340 shares in the last quarter. Morgan Stanley boosted its position in T. Rowe Price Group by 15.0% during the fourth quarter. Morgan Stanley now owns 3,342,735 shares of the asset manager’s stock valued at $364,559,000 after purchasing an additional 436,365 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in T. Rowe Price Group by 850.8% in the first quarter. Renaissance Technologies LLC now owns 363,700 shares of the asset manager’s stock valued at $54,988,000 after purchasing an additional 325,449 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on TROW. Citigroup raised their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their price target for the stock from $92.00 to $114.00 in a research note on Monday, April 8th. Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $106.00 to $120.00 in a research note on Thursday, April 11th. JPMorgan Chase & Co. increased their target price on shares of T. Rowe Price Group from $90.00 to $94.00 and gave the stock an “underweight” rating in a research report on Friday, February 9th. Finally, UBS Group raised their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a report on Friday. Four analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $109.56.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $114.25 on Tuesday. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $132.76. The company has a market cap of $25.55 billion, a P/E ratio of 14.72, a P/E/G ratio of 2.22 and a beta of 1.40. The stock’s 50-day moving average is $114.58 and its 200-day moving average is $106.61.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.12. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the firm posted $1.74 EPS. The company’s revenue was up 6.5% on a year-over-year basis. As a group, equities analysts predict that T. Rowe Price Group, Inc. will post 8.13 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $1.24 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $4.96 dividend on an annualized basis and a yield of 4.34%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s payout ratio is 63.92%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the sale, the director now directly owns 21,073 shares in the company, valued at approximately $2,493,357.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the sale, the insider now directly owns 14,113 shares in the company, valued at $1,511,925.69. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the transaction, the director now directly owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

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.