Simplicity Solutions LLC Lowers Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Simplicity Solutions LLC decreased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 13.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,937 shares of the asset manager’s stock after selling 454 shares during the period. Simplicity Solutions LLC’s holdings in T. Rowe Price Group were worth $316,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TROW. Norges Bank purchased a new stake in shares of T. Rowe Price Group in the fourth quarter valued at about $208,014,000. International Assets Investment Management LLC boosted its holdings in shares of T. Rowe Price Group by 8,968.6% in the fourth quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager’s stock valued at $97,152,000 after acquiring an additional 892,198 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of T. Rowe Price Group by 3.2% in the first quarter. Vanguard Group Inc. now owns 20,183,563 shares of the asset manager’s stock valued at $3,051,553,000 after acquiring an additional 625,340 shares in the last quarter. Morgan Stanley boosted its holdings in shares of T. Rowe Price Group by 15.0% in the fourth quarter. Morgan Stanley now owns 3,342,735 shares of the asset manager’s stock valued at $364,559,000 after acquiring an additional 436,365 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of T. Rowe Price Group by 850.8% in the first quarter. Renaissance Technologies LLC now owns 363,700 shares of the asset manager’s stock valued at $54,988,000 after acquiring an additional 325,449 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 T. Rowe Price Group stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the sale, the director now directly owns 21,073 shares in the company, valued at $2,493,357.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the sale, the director now directly owns 21,073 shares in the company, valued at $2,493,357.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the sale, 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. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on TROW shares. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and raised their price objective for the company from $92.00 to $114.00 in a research note on Monday, April 8th. Wells Fargo & Company raised their price objective on shares of 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. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $106.00 to $120.00 in a research note on Thursday, April 11th. UBS Group raised their price objective on shares of 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, Morgan Stanley raised their price objective on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $112.67.

T. Rowe Price Group Trading Up 0.0 %

Shares of TROW opened at $108.73 on Friday. The stock has a market cap of $24.32 billion, a P/E ratio of 14.01, a PEG ratio of 2.04 and a beta of 1.40. The company has a 50-day moving average of $114.72 and a two-hundred day moving average of $106.74. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last announced 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. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.74 earnings per share. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 8.37 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company 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 was Thursday, March 14th. This is an increase 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 payout ratio is 63.92%.

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.