Fisher Asset Management LLC Has $164.40 Million Stake in T. Rowe Price Group, Inc. $TROW

Fisher Asset Management LLC trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,605,819 shares of the asset manager’s stock after selling 43,384 shares during the period. Fisher Asset Management LLC’s holdings in T. Rowe Price Group were worth $164,404,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. TD Private Client Wealth LLC raised its position in shares of T. Rowe Price Group by 91.8% during the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after purchasing an additional 123 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its holdings in T. Rowe Price Group by 540.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after buying an additional 238 shares in the last quarter. Root Financial Partners LLC bought a new stake in T. Rowe Price Group during the third quarter worth $30,000. Canton Hathaway LLC bought a new stake in T. Rowe Price Group during the fourth quarter worth $31,000. Finally, Sound Income Strategies LLC grew its holdings in T. Rowe Price Group by 170.3% during the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after buying an additional 189 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TROW. JPMorgan Chase & Co. decreased their price target on T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a report on Friday, April 24th. Keefe, Bruyette & Woods upped their price target on T. Rowe Price Group from $95.00 to $107.00 and gave the stock a “market perform” rating in a report on Friday, May 1st. Morgan Stanley set a $105.00 price target on T. Rowe Price Group in a report on Monday, April 27th. Jefferies Financial Group decreased their price target on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a report on Wednesday, April 8th. Finally, Zacks Research upgraded T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 13th. Eleven equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $99.54.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $103.39 on Tuesday. The company has a market capitalization of $22.15 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 4.51 and a beta of 1.51. The business has a fifty day moving average price of $96.06 and a two-hundred day moving average price of $99.18. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.15. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.23 EPS. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.63 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio is 55.73%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the transaction, the vice president owned 83,883 shares in the company, valued at $8,603,040.48. This represents a 3.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by company insiders.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.