TIAA Trust National Association Cuts Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

TIAA Trust National Association trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,967 shares of the asset manager’s stock after selling 268 shares during the period. TIAA Trust National Association’s holdings in T. Rowe Price Group were worth $449,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of TROW. Vanguard Group Inc. boosted its position in shares of T. Rowe Price Group by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager’s stock worth $2,947,559,000 after purchasing an additional 135,203 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in T. Rowe Price Group by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock worth $812,798,000 after acquiring an additional 346,369 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of T. Rowe Price Group by 0.5% during the third quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager’s stock worth $598,801,000 after acquiring an additional 25,481 shares during the last quarter. Provident Trust Co. increased its holdings in shares of T. Rowe Price Group by 8.9% during the fourth quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock valued at $295,311,000 after acquiring an additional 213,566 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of T. Rowe Price Group by 0.5% in the 4th quarter. Fisher Asset Management LLC now owns 1,870,446 shares of the asset manager’s stock valued at $211,529,000 after purchasing an additional 8,992 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TROW shares. Barclays dropped their target price on shares of 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 reissued a “market perform” rating and set a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Wells Fargo & Company reduced their target price on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Morgan Stanley dropped their price target on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. Finally, StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Hold” and an average target price of $114.09.

Insider Transactions at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,021,136. This represents a 10.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Down 3.3 %

Shares of TROW opened at $91.57 on Friday. The stock’s 50-day moving average price is $104.61 and its 200-day moving average price is $110.82. The company has a market capitalization of $20.39 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 52 week low of $91.10 and a 52 week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period in the previous year, the business posted $1.72 earnings per share. As a group, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $1.27 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.55%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio is 55.46%.

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.