T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP lifted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 30.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 72,092 shares of the asset manager’s stock after purchasing an additional 16,999 shares during the quarter. Wellington Management Group LLP’s holdings in T. Rowe Price Group were worth $8,153,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Addison Advisors LLC increased its position in T. Rowe Price Group by 67.4% in the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after buying an additional 93 shares during the period. Curio Wealth LLC bought a new position in shares of T. Rowe Price Group during the fourth quarter worth about $27,000. Y.D. More Investments Ltd increased its holdings in shares of T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after acquiring an additional 155 shares during the period. Stonebridge Financial Group LLC bought a new stake in T. Rowe Price Group in the 4th quarter valued at about $32,000. Finally, Advantage Trust Co boosted its stake in T. Rowe Price Group by 48.8% during the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 100 shares during the period. Institutional investors own 73.39% of the company’s stock.

Analyst Ratings Changes

TROW has been the topic of several analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Citigroup decreased their price target on T. Rowe Price Group from $120.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, March 31st. Barclays lowered their price target on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Finally, The Goldman Sachs Group reduced their price objective on shares of T. Rowe Price Group from $103.00 to $89.00 and set a “sell” rating for the company in a report on Thursday, April 3rd. Five analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $104.75.

T. Rowe Price Group Price Performance

Shares of TROW opened at $85.94 on Friday. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The stock has a market capitalization of $19.10 billion, a P/E ratio of 9.38, a P/E/G ratio of 2.86 and a beta of 1.50. The firm’s 50 day moving average is $98.52 and its 200-day moving average is $109.29.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (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 period in the prior year, the firm posted $1.72 earnings per share. As a group, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $1.27 dividend. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.91%. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.46%.

Insider Buying and Selling

In other news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction that occurred 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 transaction, the vice president now directly owns 36,800 shares of the company’s stock, valued at $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert F. Maclellan sold 3,955 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the sale, the director now owns 42,979 shares of the company’s stock, valued at approximately $3,935,157.24. This trade represents a 8.43 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company 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.