Whittier Trust Co. of Nevada Inc. Lowers Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Whittier Trust Co. of Nevada Inc. cut its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,146 shares of the asset manager’s stock after selling 400 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in T. Rowe Price Group were worth $582,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Amundi boosted its holdings in T. Rowe Price Group by 30.1% during the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock valued at $194,064,000 after acquiring an additional 397,278 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in T. Rowe Price Group by 5.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock valued at $812,798,000 after acquiring an additional 346,369 shares during the period. L.K. Benson & Company P.C. purchased a new position in T. Rowe Price Group during the 4th quarter valued at about $36,643,000. Caisse DE Depot ET Placement DU Quebec boosted its holdings in 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 valued at $43,373,000 after acquiring an additional 315,581 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in T. Rowe Price Group during the 4th quarter valued at about $32,332,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TROW shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Barclays lowered their target price 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. Wells Fargo & Company lowered their target price on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Finally, Morgan Stanley reduced their price target on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus target price of $114.09.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group 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 transaction, the vice president now owns 36,800 shares of the company’s stock, valued at $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $92.83 on Friday. T. Rowe Price Group, Inc. has a fifty-two week low of $91.37 and a fifty-two week high of $125.81. The firm has a market capitalization of $20.67 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. The stock’s 50-day simple moving average is $106.39 and its 200-day simple moving average is $111.19.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate 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 period last year, the business posted $1.72 EPS. On average, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $1.27 per share. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 annualized dividend and a yield of 5.47%. T. Rowe Price Group’s 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.