American Century Companies Inc. Lowers Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

American Century Companies Inc. lessened its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.0% in the fourth quarter, HoldingsChannel reports. The firm owned 2,817,188 shares of the asset manager’s stock after selling 58,385 shares during the quarter. American Century Companies Inc.’s holdings in T. Rowe Price Group were worth $318,596,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Glenview Trust co lifted its stake in shares of T. Rowe Price Group by 2.2% in the 4th quarter. Glenview Trust co now owns 4,318 shares of the asset manager’s stock valued at $488,000 after purchasing an additional 92 shares during the period. MCF Advisors LLC lifted its stake in shares of T. Rowe Price Group by 1.5% in the 4th quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock valued at $704,000 after purchasing an additional 93 shares during the period. Addison Advisors LLC lifted its stake in shares of T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 93 shares during the period. Strategy Asset Managers LLC lifted its stake in shares of T. Rowe Price Group by 4.6% in the 3rd quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock valued at $236,000 after purchasing an additional 95 shares during the period. Finally, Brooklyn Investment Group lifted its stake in shares of T. Rowe Price Group by 24.6% in the 4th quarter. Brooklyn Investment Group now owns 497 shares of the asset manager’s stock valued at $56,000 after purchasing an additional 98 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

TROW stock opened at $92.83 on Friday. T. Rowe Price Group, Inc. has a 1-year low of $91.37 and a 1-year high of $125.81. The business has a fifty day moving average price of $106.39 and a 200-day moving average price of $111.14. The stock has a market capitalization of $20.67 billion, a P/E ratio of 10.13, a P/E/G ratio of 2.86 and a beta of 1.46.

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 for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period in the previous year, the firm posted $1.72 earnings per share. As a group, 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 disclosed 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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 annualized dividend and a dividend yield of 5.47%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s payout ratio is presently 55.46%.

Insider Buying and Selling

In related news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group 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 completion of the sale, the vice president now owns 36,800 shares of the company’s stock, valued at $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TROW has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reiterated 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 research note on Thursday, February 6th. Wells Fargo & Company lowered their price objective 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. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Barclays lowered their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Finally, Morgan Stanley lowered 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 note on Monday, February 24th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $114.09.

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.