Vontobel Holding Ltd. Cuts Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Vontobel Holding Ltd. reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 24.3% in the fourth quarter, HoldingsChannel reports. The firm owned 20,675 shares of the asset manager’s stock after selling 6,634 shares during the period. Vontobel Holding Ltd.’s holdings in T. Rowe Price Group were worth $2,226,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in TROW. OFI Invest Asset Management bought a new position in T. Rowe Price Group in the third quarter worth about $25,000. Creative Financial Designs Inc. ADV grew its position in shares of T. Rowe Price Group by 83.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after buying an additional 106 shares during the last quarter. PCA Investment Advisory Services Inc. bought a new position in shares of T. Rowe Price Group during the 2nd quarter worth approximately $26,000. Park Place Capital Corp lifted its position in T. Rowe Price Group by 1,775.0% during the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 284 shares during the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in T. Rowe Price Group in the fourth quarter valued at approximately $33,000. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

TROW stock opened at $108.72 on Friday. The company has a market capitalization of $24.31 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 2.15 and a beta of 1.40. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $132.76. The firm’s fifty day simple moving average is $114.67 and its 200-day simple moving average is $106.71.

T. Rowe Price Group (NASDAQ:TROW) last posted 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. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates 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 revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.74 earnings per share. As a group, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 8.13 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

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

Insider Buying and Selling at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group 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 transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the company’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 transaction, the director now owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 1,138 shares of the firm’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 value of $121,913.94. Following the completion of the sale, the insider now directly owns 14,113 shares in the company, valued at $1,511,925.69. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TROW. UBS Group upped their price target on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research report on Friday, April 12th. Wells Fargo & Company increased their price target 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. Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $106.00 to $120.00 in a report on Thursday, April 11th. Morgan Stanley upped 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 report on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research note on Tuesday. Four analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $112.67.

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.