King Luther Capital Management Corp Has $3.04 Million Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

King Luther Capital Management Corp increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.7% during the fourth quarter, Holdings Channel reports. The fund owned 26,917 shares of the asset manager’s stock after acquiring an additional 175 shares during the quarter. King Luther Capital Management Corp’s holdings in T. Rowe Price Group were worth $3,044,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Nilsine Partners LLC lifted its holdings in shares of T. Rowe Price Group by 75.5% in the fourth quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock valued at $623,000 after purchasing an additional 2,370 shares in the last quarter. Principal Financial Group Inc. boosted its stake 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 buying an additional 7,503 shares during the period. Amundi grew its stake in T. Rowe Price Group by 30.1% in the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock valued at $194,064,000 after purchasing an additional 397,278 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of T. Rowe Price Group by 3.8% in the 3rd quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock valued at $3,267,000 after buying an additional 1,100 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in T. Rowe Price Group by 0.5% in the fourth quarter. Fisher Asset Management LLC now owns 1,870,446 shares of the asset manager’s stock worth $211,529,000 after acquiring an additional 8,992 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

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 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 sale, the vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Down 3.1 %

Shares of NASDAQ TROW opened at $93.28 on Thursday. T. Rowe Price Group, Inc. has a 12 month low of $92.79 and a 12 month high of $125.81. The business’s 50 day moving average is $109.13 and its two-hundred day moving average is $111.84. The company has a market cap of $20.77 billion, a P/E ratio of 10.18, a P/E/G ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly 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 return on equity of 20.83% and a net margin of 29.61%. During the same quarter last year, the business earned $1.72 earnings per share. Sell-side analysts expect 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. Investors of record on Friday, March 14th will be paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 5.45%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date is Friday, March 14th. T. Rowe Price Group’s payout ratio is currently 55.46%.

Analysts Set New Price Targets

TROW has been the topic of a number of recent research reports. Keefe, Bruyette & Woods restated 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 report on Thursday, February 6th. Barclays cut their target price on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Morgan Stanley cut their price objective on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. Finally, Wells Fargo & Company reduced 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. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $114.09.

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.