Mutual Advisors LLC Has $4.66 Million Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Mutual Advisors LLC boosted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,545 shares of the asset manager’s stock after buying an additional 779 shares during the quarter. Mutual Advisors LLC’s holdings in T. Rowe Price Group were worth $4,658,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC increased its position in shares of T. Rowe Price Group by 7,992.0% in the third quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock valued at $116,300,000 after acquiring an additional 1,054,461 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of T. Rowe Price Group by 382.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock worth $43,373,000 after purchasing an additional 315,581 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of T. Rowe Price Group by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock valued at $745,169,000 after buying an additional 231,286 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of T. Rowe Price Group by 77.2% in the 2nd quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock valued at $52,032,000 after buying an additional 196,565 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of T. Rowe Price Group by 45.1% in the third quarter. Franklin Resources Inc. now owns 490,155 shares of the asset manager’s stock valued at $53,760,000 after buying an additional 152,430 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TROW. JPMorgan Chase & Co. cut their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. TD Cowen reduced their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. The Goldman Sachs Group dropped their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. Keefe, Bruyette & Woods decreased their target price on T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. Finally, Morgan Stanley raised their price target on T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat.com, T. Rowe Price Group has an average rating of “Hold” and a consensus price target of $115.82.

Insider Activity at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares of the company’s stock, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is owned by insiders.

T. Rowe Price Group Stock Down 0.1 %

Shares of T. Rowe Price Group stock opened at $113.38 on Friday. The stock has a market capitalization of $25.19 billion, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 1.68 and a beta of 1.43. T. Rowe Price Group, Inc. has a twelve month low of $100.49 and a twelve month high of $125.81. The company has a 50-day simple moving average of $117.44 and a two-hundred day simple moving average of $112.80.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.17 earnings per share. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.45 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date was Friday, December 13th. T. Rowe Price Group’s payout ratio is currently 54.27%.

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.