T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by Midwest Professional Planners LTD.

Midwest Professional Planners LTD. grew its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 9.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,123 shares of the asset manager’s stock after buying an additional 1,596 shares during the quarter. Midwest Professional Planners LTD.’s holdings in T. Rowe Price Group were worth $2,050,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. LBP AM SA acquired a new stake in shares of T. Rowe Price Group in the 4th quarter valued at approximately $16,666,000. Commonwealth Equity Services LLC raised its holdings in T. Rowe Price Group by 5.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager’s stock worth $40,436,000 after purchasing an additional 20,062 shares during the last quarter. PGGM Investments raised its holdings in T. Rowe Price Group by 7.5% during the fourth quarter. PGGM Investments now owns 28,613 shares of the asset manager’s stock worth $3,236,000 after purchasing an additional 2,002 shares during the last quarter. Erste Asset Management GmbH raised its holdings in T. Rowe Price Group by 3.0% during the fourth quarter. Erste Asset Management GmbH now owns 54,300 shares of the asset manager’s stock worth $6,281,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Achmea Investment Management B.V. raised its holdings in T. Rowe Price Group by 0.9% during the fourth quarter. Achmea Investment Management B.V. now owns 155,396 shares of the asset manager’s stock worth $17,573,000 after purchasing an additional 1,454 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Trading Down 1.3 %

TROW stock opened at $92.04 on Friday. The stock has a 50-day moving average price of $108.70 and a two-hundred day moving average price of $111.70. T. Rowe Price Group, Inc. has a 12-month low of $91.59 and a 12-month high of $125.81. The company has a market cap of $20.49 billion, a PE ratio of 10.05, a price-to-earnings-growth 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 (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 company posted $1.72 EPS. Equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $1.27 dividend. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 annualized dividend and a dividend yield of 5.52%. T. Rowe Price Group’s dividend payout ratio is presently 55.46%.

Insider Transactions at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction dated 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. The trade was a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

TROW has been the subject of several research reports. Barclays reduced their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Morgan Stanley cut their price target on 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. 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. Wells Fargo & Company cut 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. Finally, StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and an average price target of $114.09.

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.