T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock Position Decreased by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. reduced its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 72.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,059 shares of the asset manager’s stock after selling 21,360 shares during the period. Pittenger & Anderson Inc.’s holdings in T. Rowe Price Group were worth $868,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 worth $513,874,000 after acquiring an additional 134,839 shares during the period. Morgan Stanley raised its holdings in shares of T. Rowe Price Group by 0.7% during the third quarter. Morgan Stanley now owns 3,483,350 shares of the asset manager’s stock valued at $365,299,000 after buying an additional 25,012 shares during the last quarter. Northern Trust Corp boosted its position in shares of T. Rowe Price Group by 4.1% during the third quarter. Northern Trust Corp now owns 2,356,132 shares of the asset manager’s stock worth $247,088,000 after buying an additional 93,829 shares during the period. Bank of New York Mellon Corp grew its holdings in T. Rowe Price Group by 2.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,271,065 shares of the asset manager’s stock worth $238,167,000 after buying an additional 44,175 shares in the last quarter. Finally, Invesco Ltd. raised its stake in T. Rowe Price Group by 7.6% during 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 in the last quarter. 73.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on TROW. Wells Fargo & Company raised their price target on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, February 9th. TD Cowen raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their price target for the stock from $92.00 to $114.00 in a research note on Monday, April 8th. JPMorgan Chase & Co. raised their price objective on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. Morgan Stanley upped 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. Finally, Citigroup boosted their price objective 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. Four research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus target price of $112.67.

T. Rowe Price Group Stock Performance

TROW traded down $2.23 during trading on Thursday, reaching $108.83. The company had a trading volume of 2,161,031 shares, compared to its average volume of 1,424,683. The firm’s 50-day simple moving average is $114.98 and its 200 day simple moving average is $106.98. The company has a market cap of $24.34 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 2.10 and a beta of 1.40. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.12. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the business earned $1.74 earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 8.36 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $1.24 per share. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. 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%. T. Rowe Price Group’s payout ratio is currently 63.92%.

Insider Buying and Selling

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

About T. Rowe Price Group

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.