26,942 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Bought by Taika Capital LP

Taika Capital LP acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 26,942 shares of the asset manager’s stock, valued at approximately $3,047,000. T. Rowe Price Group comprises about 2.3% of Taika Capital LP’s investment portfolio, making the stock its 14th biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. United Community Bank acquired a new position in shares of T. Rowe Price Group during the 4th quarter worth approximately $1,608,000. Amundi raised its position in shares of T. Rowe Price Group by 30.1% during the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock worth $194,064,000 after purchasing an additional 397,278 shares during the last quarter. Lifeworks Advisors LLC acquired a new position in shares of T. Rowe Price Group during the 4th quarter worth approximately $209,000. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of T. Rowe Price Group by 7.4% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,975 shares of the asset manager’s stock worth $496,000 after purchasing an additional 275 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC raised its position in shares of T. Rowe Price Group by 9.7% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 7,995 shares of the asset manager’s stock worth $904,000 after purchasing an additional 709 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the sale, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TROW has been the subject of several research reports. Morgan Stanley cut their price objective on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. Barclays decreased their target price on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft boosted their price target on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a report on Monday, November 11th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Finally, Wells Fargo & Company dropped their target price on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $114.09.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $100.66 on Monday. The company has a market cap of $22.41 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 12 month low of $97.26 and a 12 month high of $125.81. The stock’s 50-day moving average is $110.17 and its 200-day moving average is $112.14.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing the consensus estimate 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 previous year, the business posted $1.72 earnings per share. Research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS 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 dividend of $1.27 per share. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date is Friday, March 14th. This represents a $5.08 annualized dividend and a dividend yield of 5.05%. T. Rowe Price Group’s payout ratio is presently 55.46%.

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.