South Dakota Investment Council Takes $158,000 Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

South Dakota Investment Council bought a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,398 shares of the asset manager’s stock, valued at approximately $158,000.

Other large investors have also added to or reduced their stakes in the company. Insight Folios Inc grew its holdings in shares of T. Rowe Price Group by 3.6% during the third quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock worth $285,000 after purchasing an additional 90 shares during the last quarter. Keystone Financial Services boosted its position in T. Rowe Price Group by 5.1% during the 3rd quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock worth $205,000 after buying an additional 92 shares during the period. MCF Advisors LLC grew its holdings in T. Rowe Price Group by 1.5% during the 4th quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock worth $704,000 after acquiring an additional 93 shares during the last quarter. Nvwm LLC increased its position in T. Rowe Price Group by 2.2% in the 3rd quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock valued at $490,000 after acquiring an additional 95 shares during the period. Finally, Strategy Asset Managers LLC raised its stake in shares of T. Rowe Price Group by 4.6% during the third quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock valued at $236,000 after acquiring an additional 95 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Up 0.3 %

NASDAQ TROW opened at $106.57 on Tuesday. T. Rowe Price Group, Inc. has a 52 week low of $100.49 and a 52 week high of $125.81. The business has a 50 day moving average price of $112.54 and a 200-day moving average price of $112.43. The company has a market cap of $23.73 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 2.86 and a beta of 1.44.

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

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.77%. 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%.

Wall Street Analysts Forecast Growth

TROW has been the subject of a number of recent research reports. Evercore ISI increased their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. TD Cowen decreased their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Wells Fargo & Company cut their price objective on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised their price target on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. 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 equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $114.09.

Insider Activity at T. Rowe Price Group

In other news, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the sale, the vice president now owns 36,800 shares in the company, valued at $4,021,136. This represents a 10.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

T. Rowe Price Group 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.