Oppenheimer & Co. Inc. Trims Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Oppenheimer & Co. Inc. lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 34.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,284 shares of the asset manager’s stock after selling 22,152 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in T. Rowe Price Group were worth $4,669,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Nilsine Partners LLC boosted its position in shares of T. Rowe Price Group by 75.5% during the 4th quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock valued at $623,000 after acquiring an additional 2,370 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of T. Rowe Price Group by 2.8% during the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock valued at $30,062,000 after acquiring an additional 7,503 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of T. Rowe Price Group by 3.8% during the 3rd quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock valued at $3,267,000 after acquiring an additional 1,100 shares during the last quarter. Aigen Investment Management LP bought a new stake in shares of T. Rowe Price Group during the 3rd quarter valued at about $516,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of T. Rowe Price Group by 3.5% during 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 acquiring an additional 231,286 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $105.72 on Friday. The firm has a market cap of $23.54 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 2.86 and a beta of 1.44. T. Rowe Price Group, Inc. has a fifty-two week low of $100.49 and a fifty-two week high of $125.81. The business has a 50 day moving average price of $111.75 and a 200-day moving average price of $112.33.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS 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 in the prior year, the company posted $1.72 EPS. Research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date is Friday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio is currently 55.46%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Morgan Stanley cut 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. Evercore ISI upped their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Finally, TD Cowen cut their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $114.09.

Insider Activity at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the transaction, the vice president now owns 119,577 shares in the company, valued at $14,749,822.95. This represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value 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 disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

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.