T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Signaturefd LLC

Signaturefd LLC lessened its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 17.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,326 shares of the asset manager’s stock after selling 702 shares during the period. Signaturefd LLC’s holdings in T. Rowe Price Group were worth $358,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of TROW. International Assets Investment Management LLC raised its position in shares of T. Rowe Price Group by 8,968.6% during the 4th quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager’s stock worth $97,152,000 after purchasing an additional 892,198 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in T. Rowe Price Group in the 3rd quarter valued at about $21,114,000. Robeco Institutional Asset Management B.V. raised its holdings in T. Rowe Price Group by 282.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 201,435 shares of the asset manager’s stock valued at $21,124,000 after acquiring an additional 148,787 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in T. Rowe Price Group by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock valued at $513,874,000 after acquiring an additional 134,839 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in T. Rowe Price Group by 7.6% in the 3rd quarter. Invesco Ltd. now owns 1,684,057 shares of the asset manager’s stock valued at $176,607,000 after acquiring an additional 119,305 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $108.83 on Friday. The company has a market capitalization of $24.34 billion, a P/E ratio of 14.02, a P/E/G ratio of 2.08 and a beta of 1.40. The company has a 50 day simple moving average of $115.00 and a 200-day simple moving average of $107.00. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.12. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company posted $1.74 EPS. As a group, research analysts expect that T. Rowe Price Group, Inc. will post 8.36 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $1.24 per share. The ex-dividend date was Thursday, March 14th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.56%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 63.92%.

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the transaction, the insider now owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the transaction, the director now owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on TROW shares. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $106.00 to $120.00 in a report on Thursday, April 11th. Morgan Stanley increased their price objective on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. Wells Fargo & Company increased their price objective on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, February 9th. Citigroup increased their price objective on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Finally, JPMorgan Chase & Co. raised their price target on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Four investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $112.67.

T. Rowe Price Group 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.