T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Bought by Mattern Capital Management LLC

Mattern Capital Management LLC boosted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 74,212 shares of the asset manager’s stock after acquiring an additional 1,837 shares during the quarter. Mattern Capital Management LLC’s holdings in T. Rowe Price Group were worth $8,393,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Insight Folios Inc grew its position in shares of T. Rowe Price Group by 3.6% during the third quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock worth $285,000 after buying an additional 90 shares in the last quarter. Keystone Financial Services grew its position in shares of T. Rowe Price Group by 5.1% during the third quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock worth $205,000 after buying an additional 92 shares in the last quarter. MCF Advisors LLC boosted its holdings in T. Rowe Price Group by 1.5% in the fourth quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock worth $704,000 after purchasing an additional 93 shares during the period. Nvwm LLC boosted its holdings in T. Rowe Price Group by 2.2% in the third quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock worth $490,000 after purchasing an additional 95 shares during the period. Finally, Strategy Asset Managers LLC boosted its holdings in T. Rowe Price Group by 4.6% in the third quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock worth $236,000 after purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on TROW. Wells Fargo & Company decreased their price objective on shares of 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. Barclays decreased their price objective on shares of 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. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Evercore ISI raised their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. cut their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $115.09.

Insider Activity at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the sale, the vice president now 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Arif Husain sold 4,112 shares of T. Rowe Price Group 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 completion of the sale, the vice president now directly owns 36,800 shares in the company, 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 company insiders.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $108.49 on Friday. The stock has a fifty day moving average price of $113.06 and a two-hundred day moving average price of $112.27. T. Rowe Price Group, Inc. has a 52-week low of $100.49 and a 52-week high of $125.81. The firm has a market capitalization of $24.15 billion, a P/E ratio of 11.84, a P/E/G ratio of 2.85 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share 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 last year, the business earned $1.72 earnings per share. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS 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. Investors of record on Friday, March 14th will be issued a $1.27 dividend. This is a boost 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 4.68%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 54.15%.

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.