Barclays PLC Decreases Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Barclays PLC lowered its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 37.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 511,249 shares of the asset manager’s stock after selling 311,620 shares during the period. Barclays PLC owned approximately 0.23% of T. Rowe Price Group worth $57,815,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of T. Rowe Price Group in the 4th quarter worth approximately $117,704,000. Amundi boosted its stake in T. Rowe Price Group by 30.1% during the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock worth $194,064,000 after buying an additional 397,278 shares during the period. Charles Schwab Investment Management Inc. increased its position in T. Rowe Price Group by 5.1% during the fourth 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 last quarter. L.K. Benson & Company P.C. purchased a new stake in shares of T. Rowe Price Group in the fourth quarter valued at $36,643,000. Finally, Raymond James Financial Inc. bought a new stake in shares of T. Rowe Price Group in the 4th quarter worth about $32,332,000. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $85.37 on Thursday. The company has a 50 day moving average price of $96.58 and a 200-day moving average price of $108.71. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The stock has a market capitalization of $18.97 billion, a PE ratio of 9.32, a PEG ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm posted $1.72 EPS. Equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $1.27 dividend. The ex-dividend date was Friday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a yield of 5.95%. T. Rowe Price Group’s payout ratio is currently 55.46%.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction dated 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 owns 36,800 shares in the company, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were 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 $3,935,157.24. The trade was a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TROW. Evercore ISI cut their price target on shares of T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating on the stock in a report on Friday, April 11th. Bank of America reduced their price target on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a report on Thursday, April 3rd. Morgan Stanley dropped their price objective on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. The Goldman Sachs Group decreased their target price on T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating for the company in a research report on Monday. Finally, Wells Fargo & Company cut their price target on shares of T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. 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 stock presently has a consensus rating of “Hold” and a consensus target price of $96.00.

About T. Rowe Price Group

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.