Greenwood Capital Associates LLC Boosts Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Greenwood Capital Associates LLC lifted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,606 shares of the asset manager’s stock after purchasing an additional 301 shares during the quarter. Greenwood Capital Associates LLC’s holdings in T. Rowe Price Group were worth $927,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC grew its holdings 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 period. UBS Group AG increased its position in shares of T. Rowe Price Group by 473.3% during the fourth quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock valued at $105,022,000 after acquiring an additional 805,106 shares during the last quarter. Norges Bank purchased a new stake in shares of T. Rowe Price Group in the 4th quarter valued at approximately $80,831,000. Hsbc Holdings PLC lifted its holdings in shares of T. Rowe Price Group by 66.8% in the 4th quarter. Hsbc Holdings PLC now owns 765,080 shares of the asset manager’s stock worth $82,434,000 after acquiring an additional 306,524 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of T. Rowe Price Group by 21.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,352,683 shares of the asset manager’s stock worth $145,685,000 after purchasing an additional 236,697 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction that occurred 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 owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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, hitting $114.90. 768,641 shares of the stock were exchanged, compared to its average volume of 1,030,854. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $132.76. The stock has a fifty day moving average price of $114.37 and a two-hundred day moving average price of $111.74. The firm has a market capitalization of $25.66 billion, a P/E ratio of 13.65, a PEG ratio of 1.96 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the business posted $1.69 earnings per share. T. Rowe Price Group’s quarterly revenue was up 13.8% on a year-over-year basis. Analysts predict that T. Rowe Price Group, Inc. will post 8.84 EPS for the current year.

T. Rowe Price Group Dividend Announcement

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

Analyst Upgrades and Downgrades

TROW has been the topic of several research reports. JPMorgan Chase & Co. increased their target price on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. Evercore ISI lowered their price objective on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research note on Tuesday, April 30th. TD Cowen raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their target price for the stock from $92.00 to $114.00 in a research note on Monday, April 8th. UBS Group increased their target price 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. Finally, Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. Four equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.