Mutual of America Capital Management LLC Lowers Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Mutual of America Capital Management LLC trimmed its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,907 shares of the asset manager’s stock after selling 1,483 shares during the period. Mutual of America Capital Management LLC’s holdings in T. Rowe Price Group were worth $3,221,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Simmons Bank grew its position in shares of T. Rowe Price Group by 23.0% in the third quarter. Simmons Bank now owns 3,503 shares of the asset manager’s stock valued at $367,000 after purchasing an additional 656 shares during the period. L. Roy Papp & Associates LLP grew its holdings in T. Rowe Price Group by 5.8% in the 4th quarter. L. Roy Papp & Associates LLP now owns 158,875 shares of the asset manager’s stock worth $17,109,000 after buying an additional 8,773 shares in the last quarter. Nordea Investment Management AB boosted its stake in T. Rowe Price Group by 3.5% during the 4th quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock valued at $34,299,000 after purchasing an additional 10,680 shares in the last quarter. Vest Financial LLC lifted its position in shares of T. Rowe Price Group by 48.8% during the 4th quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock valued at $30,213,000 after acquiring an additional 92,059 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of T. Rowe Price Group by 11.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 297,846 shares of the asset manager’s stock valued at $31,235,000 after purchasing an additional 30,899 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. UBS Group increased their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Citigroup raised their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their target price for the company from $92.00 to $114.00 in a research note on Monday, April 8th. Wells Fargo & Company increased their target price on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a research note on Friday, February 9th. Finally, Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. Four research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $110.56.

Insider Activity

In other news, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the transaction, the insider now owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the sale, the director now directly owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the sale, the insider now directly owns 14,113 shares in the company, valued at $1,511,925.69. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $111.39 on Thursday. The firm has a market cap of $24.91 billion, a P/E ratio of 14.35, a P/E/G ratio of 2.16 and a beta of 1.40. The firm has a 50 day simple moving average of $114.67 and a 200 day simple moving average of $106.69. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.12. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the business earned $1.74 EPS. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 8.13 EPS for the current year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $1.24 dividend. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $4.96 annualized dividend and a dividend yield of 4.45%. T. Rowe Price Group’s payout ratio is 63.92%.

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.