Bessemer Group Inc. Trims Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Bessemer Group Inc. decreased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 39,036 shares of the asset manager’s stock after selling 230 shares during the period. Bessemer Group Inc.’s holdings in T. Rowe Price Group were worth $4,413,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TROW. Orion Portfolio Solutions LLC increased its holdings in shares of T. Rowe Price Group by 15.5% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 15,325 shares of the asset manager’s stock worth $1,669,000 after buying an additional 2,053 shares during the last quarter. MML Investors Services LLC grew its position in T. Rowe Price Group by 7.5% during the third quarter. MML Investors Services LLC now owns 28,171 shares of the asset manager’s stock valued at $3,069,000 after acquiring an additional 1,973 shares during the period. Y Intercept Hong Kong Ltd increased its stake in T. Rowe Price Group by 23.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 5,895 shares of the asset manager’s stock worth $642,000 after acquiring an additional 1,133 shares during the last quarter. Barclays PLC raised its holdings in shares of T. Rowe Price Group by 13.6% in the 3rd quarter. Barclays PLC now owns 822,869 shares of the asset manager’s stock worth $89,635,000 after purchasing an additional 98,448 shares during the period. Finally, Coldstream Capital Management Inc. lifted its stake in shares of T. Rowe Price Group by 39.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,962 shares of the asset manager’s stock valued at $543,000 after purchasing an additional 1,413 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Citigroup cut their price target on shares of T. Rowe Price Group from $120.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 31st. Wells Fargo & Company cut their target price on shares of T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Barclays lowered their price target 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. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Finally, Morgan Stanley lowered their target price on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $101.36.

Insider Transactions at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the company’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 transaction of $449,318.24. Following the sale, the vice president now directly 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 legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction on Monday, March 31st. The stock was 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 directly owns 42,979 shares of the company’s stock, valued at approximately $3,935,157.24. This represents a 8.43 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

T. Rowe Price Group Stock Up 3.3 %

TROW stock opened at $88.74 on Friday. The stock’s 50 day moving average is $97.98 and its two-hundred day moving average is $109.16. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81. The company has a market capitalization of $19.72 billion, a PE ratio of 9.69, 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 quarter in the prior year, the business posted $1.72 earnings per share. As a group, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.72%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio is 55.46%.

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.