UBS Asset Management Americas Inc. Has $137.59 Million Stake in T. Rowe Price Group Inc (TROW)

UBS Asset Management Americas Inc. trimmed its holdings in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 8.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,311,289 shares of the asset manager’s stock after selling 122,808 shares during the period. UBS Asset Management Americas Inc.’s holdings in T. Rowe Price Group were worth $137,594,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Bronfman E.L. Rothschild L.P. raised its stake in shares of T. Rowe Price Group by 30.9% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 2,101 shares of the asset manager’s stock worth $220,000 after buying an additional 496 shares in the last quarter. Covenant Asset Management LLC raised its stake in shares of 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 worth $576,000 after buying an additional 500 shares in the last quarter. Nippon Life Insurance Co. raised its stake in shares of 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 worth $1,714,000 after buying an additional 540 shares in the last quarter. Ffcm LLC raised its stake in shares of 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 in the last quarter. Finally, Neuberger Berman Group LLC raised its stake in shares of 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 in the last quarter. 72.16% of the stock is owned by institutional investors and hedge funds.

TROW has been the subject of a number of analyst reports. ValuEngine raised T. Rowe Price Group from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. BidaskClub downgraded T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 31st. Morgan Stanley cut their target price on T. Rowe Price Group from $115.00 to $112.00 and set a “hold” rating for the company in a research note on Tuesday, February 13th. Zacks Investment Research downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Finally, Bank of America raised T. Rowe Price Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $113.00 to $125.00 in a research note on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $100.60.

Shares of T. Rowe Price Group Inc (TROW) opened at $110.49 on Monday. The firm has a market capitalization of $27,008.67, a P/E ratio of 20.35, a P/E/G ratio of 1.25 and a beta of 1.28. T. Rowe Price Group Inc has a fifty-two week low of $66.70 and a fifty-two week high of $120.07.

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

The company 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. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.53%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $0.57. T. Rowe Price Group’s dividend payout ratio is currently 38.19%.

In related news, VP Christopher D. Alderson sold 91,605 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $103.28, for a total value of $9,460,964.40. Following the sale, the vice president now owns 169,816 shares in the company, valued at approximately $17,538,596.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William J. Stromberg sold 30,000 shares of the 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 sale, the chief executive officer now owns 534,077 shares in the company, valued at approximately $51,853,535.93. The disclosure for this sale can be found here. In the last 90 days, insiders sold 204,980 shares of company stock worth $20,776,729. Insiders own 3.60% of the company’s stock.

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T. Rowe Price Group Company 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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