26,942 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Purchased by Taika Capital LP

Taika Capital LP acquired a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 4th quarter, Holdings Channel.com reports. The fund acquired 26,942 shares of the asset manager’s stock, valued at approximately $3,047,000. T. Rowe Price Group makes up approximately 2.3% of Taika Capital LP’s investment portfolio, making the stock its 14th biggest position.

A number of other large investors also recently bought and sold shares of TROW. United Community Bank bought a new stake in shares of T. Rowe Price Group in the 4th quarter valued at approximately $1,608,000. Amundi boosted its holdings in T. Rowe Price Group by 30.1% in the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock worth $194,064,000 after purchasing an additional 397,278 shares during the period. Lifeworks Advisors LLC bought a new stake in T. Rowe Price Group during the fourth quarter valued at $209,000. Bank Julius Baer & Co. Ltd Zurich increased its stake in T. Rowe Price Group by 7.4% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,975 shares of the asset manager’s stock valued at $496,000 after purchasing an additional 275 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC raised its holdings in shares of T. Rowe Price Group by 9.7% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 7,995 shares of the asset manager’s stock worth $904,000 after purchasing an additional 709 shares during the period. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Up 1.8 %

Shares of TROW opened at $100.66 on Monday. The firm has a market capitalization of $22.41 billion, a PE ratio of 10.99, a P/E/G ratio of 2.86 and a beta of 1.46. The firm has a 50-day moving average price of $110.17 and a 200 day moving average price of $112.14. T. Rowe Price Group, Inc. has a 52-week low of $97.26 and a 52-week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same quarter last year, the business posted $1.72 EPS. On average, equities analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $1.27 dividend. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date is Friday, March 14th. This represents a $5.08 annualized dividend and a dividend yield of 5.05%. T. Rowe Price Group’s dividend payout ratio is 55.46%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TROW. Morgan Stanley lowered their price objective on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. Deutsche Bank Aktiengesellschaft upped their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a report on Monday, November 11th. Barclays dropped their price target on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Finally, Wells Fargo & Company dropped their target price on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and an average price target of $114.09.

Insider Activity at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the sale, the vice president now directly owns 119,577 shares of the company’s stock, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the transaction, the vice president now owns 36,800 shares in the company, valued at $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.