T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lowered its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,075,717 shares of the asset manager’s stock after selling 73,189 shares during the quarter. Legal & General Group Plc owned about 0.93% of T. Rowe Price Group worth $234,743,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TROW. Glenview Trust co lifted its holdings in shares of T. Rowe Price Group by 2.2% in the 4th quarter. Glenview Trust co now owns 4,318 shares of the asset manager’s stock worth $488,000 after acquiring an additional 92 shares during the last quarter. MCF Advisors LLC lifted its stake in T. Rowe Price Group by 1.5% during the fourth quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock worth $704,000 after purchasing an additional 93 shares in the last quarter. Addison Advisors LLC boosted its position in shares of T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after buying an additional 93 shares during the period. Brooklyn Investment Group grew its stake in shares of T. Rowe Price Group by 24.6% in the fourth quarter. Brooklyn Investment Group now owns 497 shares of the asset manager’s stock valued at $56,000 after buying an additional 98 shares in the last quarter. Finally, Advantage Trust Co raised its holdings in shares of T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on TROW shares. Bank of America dropped their target price on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating for the company in a research report on Thursday, April 3rd. Wells Fargo & Company dropped their price objective on shares of T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating for the company in a report on Tuesday. Citigroup decreased their price target on shares of T. Rowe Price Group from $120.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, March 31st. The Goldman Sachs Group dropped their price target on shares of T. Rowe Price Group from $103.00 to $89.00 and set a “sell” rating for the company in a research note on Thursday, April 3rd. Finally, Barclays decreased their target price on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Five investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $107.00.

T. Rowe Price Group Stock Down 1.7 %

Shares of TROW opened at $80.27 on Wednesday. The company has a market capitalization of $17.84 billion, a price-to-earnings ratio of 8.76, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81. The stock has a 50 day moving average price of $100.15 and a 200 day moving average price of $109.71.

T. Rowe Price Group (NASDAQ:TROW) last issued 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 net margin of 29.61% and a return on equity of 20.83%. During the same quarter last year, the firm posted $1.72 earnings per share. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $1.27 dividend. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a dividend yield of 6.33%. The ex-dividend date was Friday, March 14th. T. Rowe Price Group’s payout ratio is presently 55.46%.

Insider Activity at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the 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 sale, the vice president now owns 36,800 shares in the company, valued at $4,021,136. This represents a 10.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction on Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the transaction, the director now owns 42,979 shares in the company, valued at approximately $3,935,157.24. This represents a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

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.