Bennett Selby Investments LP Raises Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Bennett Selby Investments LP lifted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 391.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 11,884 shares of the asset manager’s stock after purchasing an additional 9,464 shares during the quarter. T. Rowe Price Group comprises approximately 0.7% of Bennett Selby Investments LP’s holdings, making the stock its 28th largest holding. Bennett Selby Investments LP’s holdings in T. Rowe Price Group were worth $1,280,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TROW. Simmons Bank raised its position in shares of T. Rowe Price Group by 23.0% in the 3rd quarter. Simmons Bank now owns 3,503 shares of the asset manager’s stock valued at $367,000 after purchasing an additional 656 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of T. Rowe Price Group during the 2nd quarter valued at approximately $1,196,000. Nomura Asset Management Co. Ltd. raised its position in shares of T. Rowe Price Group by 11.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 297,846 shares of the asset manager’s stock valued at $31,235,000 after acquiring an additional 30,899 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of T. Rowe Price Group by 1.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 176,709 shares of the asset manager’s stock valued at $18,532,000 after acquiring an additional 2,104 shares in the last quarter. Finally, Toronto Dominion Bank raised its position in shares of T. Rowe Price Group by 10.7% during the 3rd quarter. Toronto Dominion Bank now owns 105,777 shares of the asset manager’s stock valued at $11,093,000 after acquiring an additional 10,221 shares in the last quarter. Hedge funds and other institutional investors own 75.85% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW traded down $0.05 during mid-day trading on Friday, reaching $114.86. 4,318,687 shares of the company traded hands, compared to its average volume of 1,483,088. The stock has a market cap of $25.69 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 2.34 and a beta of 1.39. The company’s fifty day moving average is $110.80 and its two-hundred day moving average is $105.34. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $132.76.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last issued its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.12. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.74 EPS. Research analysts forecast that T. Rowe Price Group, Inc. will post 7.75 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Friday, March 15th will be issued a $1.24 dividend. The ex-dividend date is Thursday, March 14th. This represents a $4.96 dividend on an annualized basis and a yield of 4.32%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s dividend payout ratio (DPR) is 62.89%.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the sale, the director now owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the sale, the director now owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 1,138 shares of the firm’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 value of $121,913.94. Following the transaction, the insider now owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. Insiders have sold 21,847 shares of company stock valued at $2,423,668 in the last 90 days. 2.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on TROW. JPMorgan Chase & Co. increased their target price on 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. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. UBS Group upped their target price on T. Rowe Price Group from $86.00 to $102.00 and gave the company a “sell” rating in a report on Wednesday, January 10th. Wells Fargo & Company upped their target price on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, February 9th. Finally, Morgan Stanley upped their target price on T. Rowe Price Group from $101.00 to $106.00 and gave the company an “equal weight” rating in a report on Friday, January 19th. Six investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $97.30.

Get Our Latest Stock Analysis on TROW

T. Rowe Price Group Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

Receive News & Ratings for T. Rowe Price Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group and related companies with MarketBeat.com's FREE daily email newsletter.