United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Buys New Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,400 shares of the asset manager’s stock, valued at approximately $724,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Nilsine Partners LLC grew its stake in T. Rowe Price Group by 75.5% in the 4th quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock worth $623,000 after acquiring an additional 2,370 shares during the period. Principal Financial Group Inc. grew its position in shares of T. Rowe Price Group by 2.8% in the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock valued at $30,062,000 after purchasing an additional 7,503 shares during the period. Amundi increased 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 during the last quarter. Commonwealth Equity Services LLC lifted its position in T. Rowe Price Group by 5.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager’s stock worth $40,436,000 after buying an additional 20,062 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in 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 worth $3,267,000 after buying an additional 1,100 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports 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 for the company in a research report on Monday, February 24th. 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. Barclays decreased their price target on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Wells Fargo & Company reduced 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. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $114.09.

T. Rowe Price Group Trading Down 0.5 %

Shares of NASDAQ TROW opened at $95.47 on Wednesday. The firm has a 50-day moving average of $105.77 and a two-hundred day moving average of $111.13. The company has a market capitalization of $21.25 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a twelve month low of $91.37 and a twelve month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued 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 return on equity of 20.83% and a net margin of 29.61%. During the same quarter in the prior year, the firm earned $1.72 EPS. As a group, research 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 company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $1.27 dividend. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a dividend yield of 5.32%. The ex-dividend date of this dividend is Friday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.46%.

Insider Buying and Selling

In related 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 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. The trade was a 10.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.00% of the company’s stock.

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.