Victory Capital Management Inc. Decreases Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Victory Capital Management Inc. lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.6% in the fourth quarter, Holdings Channel reports. The firm owned 2,975,179 shares of the asset manager’s stock after selling 177,372 shares during the period. Victory Capital Management Inc.’s holdings in T. Rowe Price Group were worth $336,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of T. Rowe Price Group by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock worth $812,798,000 after buying an additional 346,369 shares during the last quarter. Geode Capital Management LLC raised its position in T. Rowe Price Group by 0.5% in the third quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager’s stock worth $598,801,000 after acquiring an additional 25,481 shares during the period. Provident Trust Co. boosted its stake in T. Rowe Price Group by 8.9% in the fourth quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock valued at $295,311,000 after acquiring an additional 213,566 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of T. Rowe Price Group by 0.5% during the 4th quarter. Fisher Asset Management LLC now owns 1,870,446 shares of the asset manager’s stock valued at $211,529,000 after acquiring an additional 8,992 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of T. Rowe Price Group by 4.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,375,306 shares of the asset manager’s stock worth $149,812,000 after purchasing an additional 53,997 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the sale, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 completion of 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 position. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Trading Down 3.6 %

Shares of T. Rowe Price Group stock opened at $100.10 on Wednesday. The company’s 50-day moving average price is $111.17 and its 200-day moving average price is $112.33. The company has a market cap of $22.29 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 2.86 and a beta of 1.44. T. Rowe Price Group, Inc. has a 12-month low of $98.70 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted 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 return on equity of 20.83% and a net margin of 29.61%. During the same quarter in the previous year, the firm earned $1.72 earnings per share. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed 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 is a positive change 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 5.07%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.46%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Wells Fargo & Company dropped their price objective on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Morgan Stanley dropped 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 research report on Monday, February 24th. Barclays decreased their price objective on 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. 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 report on Monday, November 11th. Finally, Evercore ISI lifted their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and an average price target of $114.09.

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.