T. Rowe Price Group, Inc. (NASDAQ:TROW) Holdings Decreased by Huntington National Bank

Huntington National Bank reduced its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,066 shares of the asset manager’s stock after selling 1,059 shares during the period. Huntington National Bank’s holdings in T. Rowe Price Group were worth $1,930,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Columbia Asset Management increased its stake in T. Rowe Price Group by 1.7% in the 4th quarter. Columbia Asset Management now owns 9,209 shares of the asset manager’s stock valued at $1,041,000 after buying an additional 155 shares during the period. Groupama Asset Managment acquired a new position in shares of T. Rowe Price Group in the fourth quarter worth $762,000. OV Management LLC raised its holdings in shares of T. Rowe Price Group by 8.8% during the fourth quarter. OV Management LLC now owns 14,333 shares of the asset manager’s stock worth $1,621,000 after acquiring an additional 1,163 shares in the last quarter. Geode Capital Management LLC boosted its position in T. Rowe Price Group by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager’s stock valued at $635,260,000 after purchasing an additional 116,231 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in T. Rowe Price Group by 8.3% in the fourth quarter. National Bank of Canada FI now owns 200,812 shares of the asset manager’s stock valued at $22,720,000 after purchasing an additional 15,359 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on TROW. Wells Fargo & Company reduced their price target 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 decreased their target price 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. Citigroup dropped their price target on shares of T. Rowe Price Group from $120.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Finally, Barclays reduced their price target on 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. Five investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $108.50.

T. Rowe Price Group Stock Down 8.2 %

TROW opened at $86.22 on Friday. The stock’s 50 day moving average price is $102.82 and its two-hundred day moving average price is $110.45. The firm has a market capitalization of $19.16 billion, a P/E ratio of 9.41, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50. T. Rowe Price Group, Inc. has a 12-month low of $85.45 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data 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 return on equity of 20.83% and a net margin of 29.61%. During the same quarter last year, the company 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 business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $1.27 per share. The ex-dividend date was Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.89%. 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 is currently 55.46%.

Insider Activity

In other news, VP Arif Husain sold 4,112 shares of the stock in a transaction 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 completion of 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the sale, the director now owns 42,979 shares in the company, valued at approximately $3,935,157.24. This trade represents a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is 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.