Barclays PLC Reduces Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Barclays PLC trimmed its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 37.9% in the 4th quarter, HoldingsChannel reports. The firm owned 511,249 shares of the asset manager’s stock after selling 311,620 shares during the quarter. Barclays PLC’s holdings in T. Rowe Price Group were worth $57,815,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Summit Investment Advisors Inc. lifted its stake in T. Rowe Price Group by 114.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 13,757 shares of the asset manager’s stock valued at $1,556,000 after acquiring an additional 7,331 shares during the period. Sagespring Wealth Partners LLC purchased a new position in shares of T. Rowe Price Group during the fourth quarter worth $280,000. Optimize Financial Inc acquired a new position in T. Rowe Price Group during the fourth quarter valued at $371,000. Townsquare Capital LLC boosted its holdings in T. Rowe Price Group by 148.0% in the fourth quarter. Townsquare Capital LLC now owns 12,003 shares of the asset manager’s stock valued at $1,357,000 after purchasing an additional 7,164 shares during the last quarter. Finally, Sterling Capital Management LLC grew its position in T. Rowe Price Group by 55.5% during the 4th quarter. Sterling Capital Management LLC now owns 13,002 shares of the asset manager’s stock worth $1,470,000 after purchasing an additional 4,638 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Trading Down 2.5 %

Shares of T. Rowe Price Group stock opened at $85.37 on Thursday. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The firm’s 50-day moving average price is $96.58 and its 200 day moving average price is $108.71. The firm has a market capitalization of $18.97 billion, a PE ratio of 9.32, a P/E/G ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period last year, the business earned $1.72 earnings per share. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.95%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date was Friday, March 14th. T. Rowe Price Group’s dividend payout ratio is 55.46%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction 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 directly owns 36,800 shares of the company’s stock, valued at $4,021,136. This trade represents a 10.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert F. Maclellan sold 3,955 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the transaction, the director now directly owns 42,979 shares in the company, valued at approximately $3,935,157.24. The trade was a 8.43 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TROW. TD Cowen decreased their price objective on T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. Bank of America decreased their price target on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating for the company in a report on Thursday, April 3rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Wells Fargo & Company lowered their price target on shares of T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Finally, Citigroup cut their price objective on shares of T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Monday. Four research 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 has a consensus rating of “Hold” and an average price target of $96.00.

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.