Robeco Institutional Asset Management B.V. Sells 102,128 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Robeco Institutional Asset Management B.V. lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 50.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,307 shares of the asset manager’s stock after selling 102,128 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in T. Rowe Price Group were worth $10,694,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of TROW. L. Roy Papp & Associates LLP lifted its position in T. Rowe Price Group by 5.8% in the 4th quarter. L. Roy Papp & Associates LLP now owns 158,875 shares of the asset manager’s stock worth $17,109,000 after buying an additional 8,773 shares during the last quarter. Nordea Investment Management AB lifted its position in T. Rowe Price Group by 3.5% in the 4th quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock worth $34,299,000 after buying an additional 10,680 shares during the last quarter. Vest Financial LLC lifted its position in T. Rowe Price Group by 48.8% in the 4th quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock worth $30,213,000 after buying an additional 92,059 shares during the last quarter. Certuity LLC bought a new stake in T. Rowe Price Group in the 4th quarter worth approximately $228,000. Finally, Cullen Investment Group LTD. bought a new stake in T. Rowe Price Group in the 4th quarter worth approximately $953,000. Institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on TROW shares. Morgan Stanley boosted their target price on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Citigroup lifted their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. Evercore ISI decreased their price target on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 30th. Finally, StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Four research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, T. Rowe Price Group has an average rating of “Hold” and a consensus target price of $112.10.

Check Out Our Latest Stock Analysis on TROW

T. Rowe Price Group Stock Performance

TROW opened at $116.76 on Monday. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $132.76. The stock has a market capitalization of $26.07 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 2.00 and a beta of 1.40. The stock’s 50 day moving average price is $114.95 and its 200-day moving average price is $108.89.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last issued its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.34. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.69 earnings per share. Research analysts forecast that T. Rowe Price Group, Inc. will post 8.8 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.25%. The ex-dividend date is Friday, June 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is 58.91%.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the sale, the director now directly owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the transaction, the director now directly owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the sale, the director now owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Company Profile

(Free Report)

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.

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

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