Gamco Investors INC. ET AL Sells 700 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Gamco Investors INC. ET AL reduced its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,537 shares of the asset manager’s stock after selling 700 shares during the period. Gamco Investors INC. ET AL’s holdings in T. Rowe Price Group were worth $3,906,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TROW. Nilsine Partners LLC grew its stake in shares of T. Rowe Price Group by 75.5% in the fourth quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock worth $623,000 after acquiring an additional 2,370 shares during the last quarter. Principal Financial Group Inc. grew its position in T. Rowe Price Group by 2.8% in the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock worth $30,062,000 after purchasing an additional 7,503 shares during the last quarter. Amundi increased its holdings in shares of T. Rowe Price Group by 30.1% during the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock worth $194,064,000 after purchasing an additional 397,278 shares during the period. Commonwealth Equity Services LLC raised its position in shares of T. Rowe Price Group by 5.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager’s stock valued at $40,436,000 after buying an additional 20,062 shares during the last quarter. Finally, Schroder Investment Management Group lifted its stake in shares of T. Rowe Price Group by 49.4% in the fourth quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager’s stock valued at $25,229,000 after buying an additional 73,307 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TROW. Citigroup decreased their target price on T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday. Bank of America decreased their price objective on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a report on Thursday, April 3rd. Evercore ISI reduced their target price on T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating for the company in a research report on Friday, April 11th. Barclays lowered their price target on shares of T. Rowe Price Group from $105.00 to $85.00 and set an “underweight” rating on the stock in a report on Wednesday. Finally, Wells Fargo & Company reduced 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, April 8th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $96.00.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the transaction, the vice president now owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. This represents a 10.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the transaction, the director now owns 42,979 shares in the company, valued at $3,935,157.24. The trade was a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Up 0.9 %

NASDAQ TROW opened at $86.11 on Friday. The firm has a market cap of $19.14 billion, a price-to-earnings ratio of 9.40, a PEG ratio of 2.86 and a beta of 1.50. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81. The company has a 50 day moving average of $96.11 and a 200-day moving average of $108.55.

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

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $1.27 per share. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date was Friday, March 14th. This represents a $5.08 annualized dividend and a yield of 5.90%. T. Rowe Price Group’s dividend payout ratio is 55.46%.

T. Rowe Price Group 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.