T. Rowe Price Group Inc (TROW) Holdings Trimmed by ING Groep NV

ING Groep NV lessened its holdings in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 22.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,492 shares of the asset manager’s stock after selling 1,833 shares during the quarter. ING Groep NV’s holdings in T. Rowe Price Group were worth $681,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Covenant Asset Management LLC grew its stake in T. Rowe Price Group by 10.0% during the 4th quarter. Covenant Asset Management LLC now owns 5,485 shares of the asset manager’s stock valued at $576,000 after purchasing an additional 500 shares in the last quarter. Nippon Life Insurance Co. grew its stake in T. Rowe Price Group by 2.9% during the 3rd quarter. Nippon Life Insurance Co. now owns 18,906 shares of the asset manager’s stock valued at $1,714,000 after purchasing an additional 540 shares in the last quarter. Ffcm LLC lifted its holdings in T. Rowe Price Group by 1.4% during the 3rd quarter. Ffcm LLC now owns 38,205 shares of the asset manager’s stock worth $3,463,000 after buying an additional 545 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in T. Rowe Price Group by 7.1% during the 3rd quarter. Neuberger Berman Group LLC now owns 8,478 shares of the asset manager’s stock worth $769,000 after buying an additional 561 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in T. Rowe Price Group by 1.6% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 36,747 shares of the asset manager’s stock worth $3,840,000 after buying an additional 565 shares during the last quarter. Hedge funds and other institutional investors own 71.89% of the company’s stock.

In other T. Rowe Price Group news, CFO Kenneth V. Moreland sold 14,419 shares of T. Rowe Price Group stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $97.07, for a total transaction of $1,399,652.33. Following the sale, the chief financial officer now owns 125,264 shares of the company’s stock, valued at approximately $12,159,376.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William J. Stromberg sold 30,000 shares of T. Rowe Price Group stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $97.09, for a total value of $2,912,700.00. Following the transaction, the chief executive officer now owns 534,077 shares in the company, valued at $51,853,535.93. The disclosure for this sale can be found here. Insiders have sold a total of 204,980 shares of company stock worth $20,776,729 in the last ninety days. 3.60% of the stock is owned by company insiders.

A number of research analysts have commented on the company. Citigroup increased their target price on T. Rowe Price Group from $94.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Morgan Stanley reduced their target price on T. Rowe Price Group from $115.00 to $112.00 and set a “hold” rating on the stock in a report on Tuesday. ValuEngine raised T. Rowe Price Group from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. BidaskClub downgraded T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 31st. Finally, Zacks Investment Research downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating and set a $115.00 target price on the stock. in a report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $100.60.

Shares of T. Rowe Price Group Inc (NASDAQ TROW) opened at $109.56 on Friday. The stock has a market capitalization of $26,550.00, a P/E ratio of 17.50, a P/E/G ratio of 1.24 and a beta of 1.28. T. Rowe Price Group Inc has a 1-year low of $66.70 and a 1-year high of $120.07.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Tuesday, January 30th. The asset manager reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.04. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.27 billion. T. Rowe Price Group had a return on equity of 25.30% and a net margin of 31.07%. The business’s revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the business posted $1.21 EPS. sell-side analysts anticipate that T. Rowe Price Group Inc will post 7.11 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be issued a $0.70 dividend. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $2.80 annualized dividend and a dividend yield of 2.56%. T. Rowe Price Group’s dividend payout ratio (DPR) is 36.42%.

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T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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