Amundi Increases Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Amundi increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 30.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,717,877 shares of the asset manager’s stock after acquiring an additional 397,278 shares during the period. Amundi’s holdings in T. Rowe Price Group were worth $194,064,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of T. Rowe Price Group by 5.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock worth $812,798,000 after acquiring an additional 346,369 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in T. Rowe Price Group by 382.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock worth $43,373,000 after purchasing an additional 315,581 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in T. Rowe Price Group during the fourth quarter worth $32,332,000. Provident Trust Co. grew its holdings in T. Rowe Price Group by 8.9% in the fourth quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock valued at $295,311,000 after purchasing an additional 213,566 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its position in shares of T. Rowe Price Group by 70.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 490,059 shares of the asset manager’s stock valued at $55,421,000 after buying an additional 201,802 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the sale, the vice president now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the transaction, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. This represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Barclays decreased their price objective on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upped their price target on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a report on Monday, November 11th. Wells Fargo & Company dropped their price objective on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $113.00 target price (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Finally, StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Four 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 company has a consensus rating of “Hold” and a consensus price target of $114.09.

T. Rowe Price Group Trading Up 1.8 %

Shares of NASDAQ:TROW opened at $100.66 on Monday. The firm has a market cap of $22.41 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 2.86 and a beta of 1.46. The stock’s 50-day moving average price is $110.17 and its two-hundred day moving average price is $112.14. T. Rowe Price Group, Inc. has a 12-month low of $97.26 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same quarter last year, the firm earned $1.72 earnings per share. As a group, research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $1.27 per share. The ex-dividend date is Friday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a dividend yield of 5.05%. T. Rowe Price Group’s payout ratio is currently 55.46%.

About T. Rowe Price Group

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.