T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by Westpac Banking Corp

Westpac Banking Corp boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 29.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,291 shares of the asset manager’s stock after acquiring an additional 291 shares during the period. Westpac Banking Corp’s holdings in T. Rowe Price Group were worth $146,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Addison Advisors LLC raised its stake in shares of T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after purchasing an additional 93 shares during the last quarter. Curio Wealth LLC acquired a new position in T. Rowe Price Group in the 4th quarter valued at $27,000. Y.D. More Investments Ltd raised its position in T. Rowe Price Group by 124.0% during the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after buying an additional 155 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of T. Rowe Price Group in the 4th quarter worth $32,000. Finally, Advantage Trust Co boosted its holdings in shares of T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 100 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the business’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the transaction, the director now directly owns 42,979 shares in the company, valued at approximately $3,935,157.24. The trade was a 8.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $449,318.24. Following the transaction, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. This represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on TROW shares. The Goldman Sachs Group cut their price target 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. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Bank of America dropped their price objective on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a report on Thursday. Citigroup reduced their target price on T. Rowe Price Group from $120.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, March 31st. Finally, Morgan Stanley cut their price target on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. 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 stock has an average rating of “Hold” and an average price target of $108.50.

T. Rowe Price Group Price Performance

TROW stock opened at $82.60 on Friday. T. Rowe Price Group, Inc. has a 12 month low of $82.34 and a 12 month high of $125.81. The firm has a market capitalization of $18.36 billion, a PE ratio of 9.02, a P/E/G ratio of 2.86 and a beta of 1.50. The company’s 50 day simple moving average is $102.18 and its 200-day simple moving average is $110.29.

T. Rowe Price Group (NASDAQ:TROW) last announced its 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 period last year, the firm posted $1.72 EPS. As a group, sell-side 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 company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $1.27 dividend. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date was Friday, March 14th. This represents a $5.08 annualized dividend and a yield of 6.15%. T. Rowe Price Group’s payout ratio is presently 55.46%.

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.