T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 9.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,831 shares of the asset manager’s stock after selling 1,373 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in T. Rowe Price Group were worth $1,382,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Creative Financial Designs Inc. ADV increased its position in shares of T. Rowe Price Group by 83.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after purchasing an additional 106 shares in the last quarter. OFI Invest Asset Management purchased a new stake in T. Rowe Price Group in the 3rd quarter valued at $25,000. Park Place Capital Corp boosted its stake in T. Rowe Price Group by 1,775.0% during the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after purchasing an additional 284 shares during the period. Fortitude Family Office LLC purchased a new position in T. Rowe Price Group during the 4th quarter worth $33,000. Finally, CVA Family Office LLC purchased a new stake in shares of T. Rowe Price Group in the fourth quarter valued at about $39,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Up 2.5 %

T. Rowe Price Group stock opened at $111.50 on Tuesday. The firm’s 50-day simple moving average is $114.75 and its 200 day simple moving average is $106.89. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $132.76. The firm has a market capitalization of $24.94 billion, a PE ratio of 14.37, a P/E/G ratio of 2.04 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, beating the consensus estimate of $1.60 by $0.12. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the business earned $1.74 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. On average, research analysts expect that T. Rowe Price Group, Inc. will post 8.36 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $1.24 per share. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. The ex-dividend date was Thursday, March 14th. This represents a $4.96 annualized dividend and a yield of 4.45%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 63.92%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. UBS Group raised their price target on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a report on Friday, April 12th. TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their price target for the stock from $92.00 to $114.00 in a research note on Monday, April 8th. Wells Fargo & Company lifted 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 report on Friday, February 9th. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their price objective for the stock from $106.00 to $120.00 in a research report on Thursday, April 11th. Finally, Morgan Stanley lifted their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. Four research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $112.67.

Insider Transactions at T. Rowe Price Group

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