Twin Capital Management Inc. Grows Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Twin Capital Management Inc. grew its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 41.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,129 shares of the asset manager’s stock after purchasing an additional 9,097 shares during the period. Twin Capital Management Inc.’s holdings in T. Rowe Price Group were worth $3,352,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position in T. Rowe Price Group by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 20,183,563 shares of the asset manager’s stock worth $3,051,553,000 after purchasing an additional 625,340 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of T. Rowe Price Group by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock valued at $513,874,000 after buying an additional 134,839 shares in the last quarter. Morgan Stanley lifted its position in shares of T. Rowe Price Group by 0.7% during the 3rd quarter. Morgan Stanley now owns 3,483,350 shares of the asset manager’s stock valued at $365,299,000 after buying an additional 25,012 shares in the last quarter. Northern Trust Corp lifted its position in shares of T. Rowe Price Group by 4.1% during the 3rd quarter. Northern Trust Corp now owns 2,356,132 shares of the asset manager’s stock valued at $247,088,000 after buying an additional 93,829 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of T. Rowe Price Group by 2.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,271,065 shares of the asset manager’s stock valued at $238,167,000 after buying an additional 44,175 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the transaction, the director now directly owns 21,073 shares in the company, valued at approximately $2,493,357.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the transaction, the director now directly owns 21,073 shares in the company, valued at approximately $2,493,357.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the transaction, the insider now owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Citigroup increased their target price on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their target price for the company from $92.00 to $114.00 in a research report on Monday, April 8th. Wells Fargo & Company increased their price objective on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a research note on Friday, February 9th. UBS Group increased their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Finally, StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Four investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $112.67.

T. Rowe Price Group Stock Down 2.3 %

Shares of TROW traded down $2.52 during midday trading on Thursday, reaching $108.87. The company had a trading volume of 1,130,421 shares, compared to its average volume of 1,389,049. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $132.76. The stock has a market cap of $24.35 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 2.16 and a beta of 1.40. The firm has a 50 day simple moving average of $114.67 and a 200-day simple moving average of $106.69.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.12. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the company earned $1.74 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 8.13 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $1.24 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.22. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.56%. T. Rowe Price Group’s dividend payout ratio is currently 63.92%.

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.