DnB Asset Management AS Sells 57,333 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

DnB Asset Management AS reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 53.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,420 shares of the asset manager’s stock after selling 57,333 shares during the quarter. DnB Asset Management AS’s holdings in T. Rowe Price Group were worth $5,589,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its stake in shares of T. Rowe Price Group by 866.7% during the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 312 shares in the last quarter. Townsquare Capital LLC boosted its position in T. Rowe Price Group by 6.6% during the 3rd quarter. Townsquare Capital LLC now owns 4,839 shares of the asset manager’s stock valued at $527,000 after acquiring an additional 299 shares in the last quarter. Bridgewater Associates LP increased its holdings in shares of T. Rowe Price Group by 794.1% in the 3rd quarter. Bridgewater Associates LP now owns 15,879 shares of the asset manager’s stock valued at $1,730,000 after acquiring an additional 14,103 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of T. Rowe Price Group by 6.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,737 shares of the asset manager’s stock worth $6,725,000 after acquiring an additional 3,969 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in shares of T. Rowe Price Group by 2.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 38,778 shares of the asset manager’s stock worth $4,224,000 after purchasing an additional 900 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TROW shares. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Wells Fargo & Company cut their price objective on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Barclays decreased their target price on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. 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 on the stock in a report on Monday, February 24th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. 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 MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and a consensus target price of $114.09.

Insider Activity at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction that occurred 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 in the company, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $91.57 on Monday. The business’s 50-day simple moving average is $104.61 and its two-hundred day simple moving average is $110.92. The company has a market cap of $20.35 billion, a PE ratio of 10.00, a PEG ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a fifty-two week low of $90.92 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued 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 in the previous year, the business posted $1.72 earnings per share. As a group, analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 5.55%. The ex-dividend date was Friday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.46%.

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.