T. Rowe Price Group, Inc. $TROW Position Trimmed by Aberdeen Group plc

Aberdeen Group plc lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,818 shares of the asset manager’s stock after selling 14,587 shares during the quarter. Aberdeen Group plc owned approximately 0.09% of T. Rowe Price Group worth $19,331,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Econ Financial Services Corp purchased a new position in T. Rowe Price Group during the 4th quarter valued at about $1,967,000. Foster & Motley Inc. grew its stake in shares of T. Rowe Price Group by 103.1% in the 4th quarter. Foster & Motley Inc. now owns 8,473 shares of the asset manager’s stock valued at $867,000 after buying an additional 4,301 shares in the last quarter. Mn Services Vermogensbeheer B.V. grew its stake in shares of T. Rowe Price Group by 1.4% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 85,183 shares of the asset manager’s stock valued at $8,721,000 after buying an additional 1,150 shares in the last quarter. Centennial Wealth Advisory LLC grew its stake in shares of T. Rowe Price Group by 4.3% in the 4th quarter. Centennial Wealth Advisory LLC now owns 9,322 shares of the asset manager’s stock valued at $955,000 after buying an additional 386 shares in the last quarter. Finally, Pallas Capital Advisors LLC grew its stake in shares of T. Rowe Price Group by 20.8% in the 4th quarter. Pallas Capital Advisors LLC now owns 4,142 shares of the asset manager’s stock valued at $424,000 after buying an additional 712 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Down 0.9%

Shares of T. Rowe Price Group stock opened at $89.33 on Tuesday. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $118.22. The company’s fifty day simple moving average is $93.25 and its 200-day simple moving average is $100.10. The company has a market cap of $19.44 billion, a price-to-earnings ratio of 9.66, a PEG ratio of 3.80 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.03). T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same period last year, the firm posted $2.12 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. As a group, research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Monday, March 16th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.8%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend was Monday, March 16th. T. Rowe Price Group’s payout ratio is presently 56.22%.

Analysts Set New Price Targets

TROW has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of T. Rowe Price Group in a research note on Monday, December 29th. BMO Capital Markets lowered their price target on T. Rowe Price Group from $110.00 to $104.00 and set a “market perform” rating for the company in a research note on Thursday, February 12th. Deutsche Bank Aktiengesellschaft decreased their target price on T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday, February 5th. Keefe, Bruyette & Woods decreased their target price on T. Rowe Price Group from $115.00 to $110.00 and set a “market perform” rating for the company in a research report on Thursday, February 5th. Finally, Evercore decreased their target price on T. Rowe Price Group from $106.00 to $99.00 in a research report on Friday, March 6th. Twelve equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $100.31.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.