T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 21.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 48,555 shares of the asset manager’s stock after selling 13,182 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in T. Rowe Price Group were worth $5,491,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Addison Advisors LLC raised its holdings in T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 93 shares during the last quarter. Y.D. More Investments Ltd grew its position in shares of T. Rowe Price Group by 124.0% in the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 155 shares during the period. Stonebridge Financial Group LLC acquired a new position in T. Rowe Price Group in the fourth quarter valued at $32,000. Advantage Trust Co lifted its position in T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after buying an additional 100 shares during the period. Finally, True Wealth Design LLC acquired a new stake in T. Rowe Price Group in the 3rd quarter worth about $37,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the transaction, the vice president now 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 legal filing with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Stock Performance

TROW stock opened at $93.04 on Friday. The firm has a market cap of $20.71 billion, a P/E ratio of 10.16, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 1 year low of $91.37 and a 1 year high of $125.81. The stock has a 50-day simple moving average of $108.27 and a 200-day simple moving average of $111.59.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (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 business posted $1.72 EPS. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $1.27 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a yield of 5.46%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s payout ratio is currently 55.46%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Wells Fargo & Company cut their price target on shares of 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 lowered their price objective on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Finally, 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 research report on Thursday, February 6th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.