Krane Funds Advisors LLC Reduces Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Krane Funds Advisors LLC lowered its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 9.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,530 shares of the asset manager’s stock after selling 360 shares during the quarter. Krane Funds Advisors LLC’s holdings in T. Rowe Price Group were worth $399,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nilsine Partners LLC grew its holdings in T. Rowe Price Group by 75.5% during the 4th quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock valued at $623,000 after purchasing an additional 2,370 shares during the last quarter. Principal Financial Group Inc. grew its position in T. Rowe Price Group by 2.8% in the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock valued at $30,062,000 after acquiring an additional 7,503 shares during the last quarter. Amundi grew its holdings in shares of T. Rowe Price Group by 30.1% in the fourth 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. Commonwealth Equity Services LLC increased its stake in T. Rowe Price Group by 5.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager’s stock worth $40,436,000 after buying an additional 20,062 shares during the period. Finally, Janus Henderson Group PLC increased its stake in T. Rowe Price Group by 3.8% in the 3rd quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock worth $3,267,000 after buying an additional 1,100 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Down 4.2 %

TROW stock opened at $82.60 on Monday. T. Rowe Price Group, Inc. has a 52-week low of $78.58 and a 52-week high of $125.81. The company’s 50-day simple moving average is $102.18 and its 200-day simple moving average is $110.32. The firm has a market cap of $18.36 billion, a P/E ratio of 9.02, a PEG ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter last year, the firm earned $1.72 EPS. On average, analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $1.27 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a yield of 6.15%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.46%.

Analyst Ratings Changes

Several brokerages have weighed in on TROW. Wells Fargo & Company lowered 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 report on Thursday, February 6th. The Goldman Sachs Group lowered 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 research report on Thursday. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Keefe, Bruyette & Woods reaffirmed 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 report on Thursday, February 6th. Finally, Morgan Stanley reduced their price objective on shares of 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. Five analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $108.50.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the firm’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 sale, the director now directly owns 42,979 shares of the company’s stock, valued at $3,935,157.24. This trade represents a 8.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the vice president now 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. Insiders own 2.00% of the company’s stock.

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.