Royal London Asset Management Ltd. Buys 1,440 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Royal London Asset Management Ltd. increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 85,811 shares of the asset manager’s stock after acquiring an additional 1,440 shares during the quarter. Royal London Asset Management Ltd.’s holdings in T. Rowe Price Group were worth $9,241,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TROW. L. Roy Papp & Associates LLP grew 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 purchasing an additional 8,773 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of T. Rowe Price Group by 15.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 344,889 shares of the asset manager’s stock valued at $37,141,000 after acquiring an additional 47,043 shares during the last quarter. Nordea Investment Management AB lifted its holdings in T. Rowe Price Group by 3.5% during the fourth quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock worth $34,299,000 after acquiring an additional 10,680 shares during the period. Vest Financial LLC boosted its position in T. Rowe Price Group by 48.8% in the fourth quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock worth $30,213,000 after purchasing an additional 92,059 shares during the last quarter. Finally, Nebula Research & Development LLC purchased a new position in T. Rowe Price Group in the fourth quarter worth $807,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction dated 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 owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Down 0.4 %

TROW traded down $0.43 during trading on Friday, reaching $114.90. 768,641 shares of the company were exchanged, compared to its average volume of 1,030,854. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $132.76. The company’s 50-day moving average is $114.37 and its two-hundred day moving average is $111.65. The company has a market cap of $25.66 billion, a price-to-earnings ratio of 13.65, a P/E/G ratio of 1.96 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The company’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 posted $1.69 earnings per share. Equities analysts forecast that T. Rowe Price Group, Inc. will post 8.84 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.32%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 58.91%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their target price on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. Citigroup lifted their price objective on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. UBS Group lifted their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Evercore ISI decreased their target price on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research report on Tuesday, April 30th. Finally, Morgan Stanley upped their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. Four research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $112.10.

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.