T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,381 shares of the asset manager’s stock after buying an additional 243 shares during the period. Wakefield Asset Management LLLP’s holdings in T. Rowe Price Group were worth $495,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Caisse DE Depot ET Placement DU Quebec lifted its stake in T. Rowe Price Group by 382.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock worth $43,373,000 after purchasing an additional 315,581 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in T. Rowe Price Group by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after acquiring an additional 231,286 shares during the period. Provident Trust Co. grew its position in T. Rowe Price Group by 8.9% in the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock valued at $295,311,000 after buying an additional 213,566 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in T. Rowe Price Group by 70.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 490,059 shares of the asset manager’s stock worth $55,421,000 after purchasing an additional 201,802 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of T. Rowe Price Group by 45.1% in the 3rd quarter. Franklin Resources Inc. now owns 490,155 shares of the asset manager’s stock valued at $53,760,000 after buying an additional 152,430 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Morgan Stanley lowered 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 report on Monday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Monday, November 11th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. JPMorgan Chase & Co. dropped their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Finally, Evercore ISI lifted their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus target price of $114.09.

T. Rowe Price Group Price Performance

TROW stock opened at $103.73 on Friday. The company has a 50-day moving average of $111.96 and a two-hundred day moving average of $112.32. The stock has a market capitalization of $23.09 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 2.86 and a beta of 1.44. T. Rowe Price Group, Inc. has a 52-week low of $100.49 and a 52-week high of $125.81.

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 for the quarter, missing analysts’ consensus estimates 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 company posted $1.72 EPS. Equities analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 4.90%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s payout ratio is 55.46%.

Insider Activity

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were 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 of the company’s stock, valued at $4,021,136. The trade was a 10.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the transaction, the vice president now owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

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.