Metis Global Partners LLC Decreases Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Metis Global Partners LLC lessened its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 11,434 shares of the asset manager’s stock after selling 592 shares during the period. Metis Global Partners LLC’s holdings in T. Rowe Price Group were worth $1,231,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its stake in T. Rowe Price Group by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock worth $513,874,000 after purchasing an additional 134,839 shares during the period. Morgan Stanley increased its stake in T. Rowe Price Group by 0.7% in the third quarter. Morgan Stanley now owns 3,483,350 shares of the asset manager’s stock worth $365,299,000 after purchasing an additional 25,012 shares during the period. Northern Trust Corp increased its stake in T. Rowe Price Group by 4.1% in the third quarter. Northern Trust Corp now owns 2,356,132 shares of the asset manager’s stock worth $247,088,000 after purchasing an additional 93,829 shares during the period. Fisher Asset Management LLC increased its stake in T. Rowe Price Group by 6.7% in the fourth quarter. Fisher Asset Management LLC now owns 1,752,005 shares of the asset manager’s stock worth $188,674,000 after purchasing an additional 109,653 shares during the period. Finally, Invesco Ltd. increased its stake in T. Rowe Price Group by 7.6% in the third quarter. Invesco Ltd. now owns 1,684,057 shares of the asset manager’s stock worth $176,607,000 after purchasing an additional 119,305 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the sale, the director now owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the sale, the director now owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the sale, the director now directly owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,921 shares of company stock valued at $1,500,133. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TROW shares. Morgan Stanley increased their target price on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 17th. JPMorgan Chase & Co. increased their price target on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. TD Cowen raised T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their price target for the stock from $92.00 to $114.00 in a research report on Monday, April 8th. Wells Fargo & Company increased their price target on T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a research report on Friday, February 9th. Finally, StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Four analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $112.10.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $111.49 on Thursday. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $132.76. The stock’s 50-day moving average is $115.24 and its 200 day moving average is $107.68. The company has a market cap of $24.90 billion, a P/E ratio of 13.24, a PEG ratio of 1.93 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the company earned $1.69 earnings per share. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, analysts anticipate that T. Rowe Price Group, Inc. will post 8.75 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.45%. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

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.