T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL reduced its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,537 shares of the asset manager’s stock after selling 700 shares during the quarter. Gamco Investors INC. ET AL’s holdings in T. Rowe Price Group were worth $3,906,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TROW. Norges Bank acquired a new position in shares of T. Rowe Price Group during the fourth quarter valued at approximately $117,704,000. Amundi raised its stake in shares of T. Rowe Price Group by 30.1% in the 4th 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of T. Rowe Price Group by 5.1% in 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 buying an additional 346,369 shares during the period. L.K. Benson & Company P.C. bought a new position in T. Rowe Price Group during the fourth quarter valued at about $36,643,000. Finally, Raymond James Financial Inc. acquired a new position in T. Rowe Price Group during the fourth quarter worth about $32,332,000. Institutional investors own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of T. Rowe Price Group from $110.00 to $90.00 and set an “underweight” rating for the company in a research report on Wednesday. Keefe, Bruyette & Woods restated a “market perform” rating and issued 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. Bank of America cut their price objective on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating for the company in a research report on Thursday, April 3rd. Citigroup decreased their target price on T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday. Finally, StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group presently has an average rating of “Hold” and a consensus target price of $96.00.

Insider Activity at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction on Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the sale, the director now owns 42,979 shares of the company’s stock, valued at approximately $3,935,157.24. The trade was a 8.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Arif Husain sold 4,112 shares of the stock in a transaction 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 directly owns 36,800 shares in the company, valued at $4,021,136. The trade was a 10.05 % 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.

T. Rowe Price Group Trading Up 0.9 %

Shares of T. Rowe Price Group stock opened at $86.11 on Friday. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The stock has a 50-day moving average price of $96.11 and a 200 day moving average price of $108.55. The company has a market cap of $19.14 billion, a P/E ratio of 9.40, a P/E/G ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data 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 quarter in the previous year, the company earned $1.72 EPS. On average, equities 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 disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 5.90%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date was Friday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.46%.

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.