T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by King Luther Capital Management Corp

King Luther Capital Management Corp boosted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,917 shares of the asset manager’s stock after buying an additional 175 shares during the quarter. King Luther Capital Management Corp’s holdings in T. Rowe Price Group were worth $3,044,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in T. Rowe Price Group by 2.8% in the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock valued at $30,062,000 after purchasing an additional 7,503 shares during the last quarter. Atria Investments Inc raised its position in shares of T. Rowe Price Group by 7.0% in the 3rd quarter. Atria Investments Inc now owns 6,103 shares of the asset manager’s stock valued at $665,000 after purchasing an additional 400 shares in the last quarter. Sigma Planning Corp boosted its stake in shares of T. Rowe Price Group by 9.1% during the 3rd quarter. Sigma Planning Corp now owns 13,676 shares of the asset manager’s stock valued at $1,490,000 after buying an additional 1,140 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of T. Rowe Price Group by 1.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 664,063 shares of the asset manager’s stock worth $72,336,000 after buying an additional 9,924 shares in the last quarter. Finally, Aigen Investment Management LP bought a new stake in shares of T. Rowe Price Group in the third quarter worth $516,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Trading Down 3.1 %

Shares of NASDAQ TROW opened at $93.28 on Thursday. T. Rowe Price Group, Inc. has a 12-month low of $92.79 and a 12-month high of $125.81. The company has a market cap of $20.77 billion, a PE ratio of 10.18, a P/E/G ratio of 2.86 and a beta of 1.46. The stock has a 50 day simple moving average of $109.13 and a 200-day simple moving average of $111.84.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period last year, the business posted $1.72 EPS. Sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date is Friday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio is currently 55.46%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Barclays cut their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. Wells Fargo & Company lowered their price target on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Morgan Stanley reduced their price objective on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. Finally, StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $114.09.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the transaction, the vice president now directly owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Company 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.