USS Investment Management Ltd Has $6.46 Million Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

USS Investment Management Ltd lowered its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 12.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 57,074 shares of the asset manager’s stock after selling 8,018 shares during the quarter. USS Investment Management Ltd’s holdings in T. Rowe Price Group were worth $6,455,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in TROW. Nilsine Partners LLC raised its stake in T. Rowe Price Group by 75.5% during the 4th quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock worth $623,000 after buying an additional 2,370 shares during the period. Amundi raised its stake in T. Rowe Price Group by 30.1% during the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock worth $194,064,000 after buying an additional 397,278 shares during the period. Schroder Investment Management Group raised its stake in T. Rowe Price Group by 49.4% during the 4th quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager’s stock worth $25,229,000 after buying an additional 73,307 shares during the period. Commonwealth Equity Services LLC raised its stake in T. Rowe Price Group by 5.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager’s stock worth $40,436,000 after buying an additional 20,062 shares during the period. Finally, Resona Asset Management Co. Ltd. acquired a new stake in T. Rowe Price Group during the 4th quarter worth $9,590,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Trading Down 0.7%

TROW stock opened at $94.46 on Friday. The stock has a market cap of $20.81 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50. The stock has a 50-day moving average price of $90.70 and a two-hundred day moving average price of $105.37. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.10. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.80 billion. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. T. Rowe Price Group’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $2.38 EPS. On average, analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group’s payout ratio is currently 57.60%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Cowen reaffirmed a “hold” rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. Morgan Stanley raised their price objective on T. Rowe Price Group from $94.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 6th. Bank of America lowered their target price on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating for the company in a report on Thursday, April 3rd. Wells Fargo & Company lowered their target price on T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Finally, Barclays increased their target price on T. Rowe Price Group from $85.00 to $90.00 and gave the stock an “underweight” rating in a report on Monday, May 5th. Four investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and a consensus target price of $94.09.

Insider Buying and Selling

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 968 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the sale, the insider now directly owns 13,611 shares in the company, valued at $1,319,994.78. This trade represents a 6.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert F. Maclellan sold 3,955 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the sale, the director now owns 42,979 shares of the company’s stock, valued at $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. 2.00% of the stock is currently owned by corporate insiders.

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.