T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Bought by Congress Asset Management Co.

Congress Asset Management Co. grew its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 139,319 shares of the asset manager’s stock after purchasing an additional 1,013 shares during the period. Congress Asset Management Co. owned approximately 0.06% of T. Rowe Price Group worth $15,756,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its holdings in shares of T. Rowe Price Group by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock valued at $745,169,000 after purchasing an additional 231,286 shares during the period. Geode Capital Management LLC increased its holdings in shares of T. Rowe Price Group by 0.5% during the third quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager’s stock valued at $598,801,000 after purchasing an additional 25,481 shares during the period. Provident Trust Co. increased its holdings in shares of T. Rowe Price Group by 0.3% during the third quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager’s stock valued at $261,185,000 after purchasing an additional 7,905 shares during the period. Fisher Asset Management LLC boosted its stake in T. Rowe Price Group by 2.6% during the third quarter. Fisher Asset Management LLC now owns 1,861,454 shares of the asset manager’s stock valued at $202,768,000 after buying an additional 47,998 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in T. Rowe Price Group by 4.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,375,306 shares of the asset manager’s stock valued at $149,812,000 after buying an additional 53,997 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TROW has been the subject of several research reports. Evercore ISI raised their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. TD Cowen decreased their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Morgan Stanley raised their target price on T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft raised their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $115.09.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the sale, the vice president now owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Down 0.1 %

Shares of T. Rowe Price Group stock opened at $107.17 on Monday. The stock has a 50-day moving average price of $114.21 and a 200 day moving average price of $112.36. The company has a market cap of $23.81 billion, a P/E ratio of 11.70, a P/E/G ratio of 1.70 and a beta of 1.44. T. Rowe Price Group, Inc. has a 1 year low of $100.49 and a 1 year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.91%. During the same quarter last year, the business posted $1.72 earnings per share. On average, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.36 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $1.27 per share. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date is Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a yield of 4.74%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.15%.

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.