T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Bought by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 23.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,745 shares of the asset manager’s stock after acquiring an additional 2,646 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in T. Rowe Price Group were worth $1,480,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. OFI Invest Asset Management acquired a new position in shares of T. Rowe Price Group during 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% during the fourth 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 in the last quarter. PCA Investment Advisory Services Inc. acquired a new position in shares of T. Rowe Price Group during the second quarter worth about $26,000. Park Place Capital Corp lifted its stake 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 worth $32,000 after purchasing an additional 284 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in T. Rowe Price Group during the fourth quarter worth approximately $33,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares in the company, valued at approximately $1,511,925.69. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the sale, the director now owns 21,073 shares in the company, valued at approximately $2,493,357.36. The sale was disclosed in a legal filing with the SEC, which is available 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 sale, the insider now owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Down 0.3 %

TROW stock traded down $0.32 on Friday, reaching $108.40. 694,782 shares of the company’s stock were exchanged, compared to its average volume of 1,398,450. The stock has a fifty day moving average of $114.67 and a 200-day moving average of $106.71. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $132.76. The firm has a market cap of $24.24 billion, a PE ratio of 13.97, a P/E/G ratio of 2.15 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share 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 return on equity of 18.41% and a net margin of 27.69%. T. Rowe Price Group’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.74 earnings per share. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 8.13 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.58%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. The ex-dividend date was Thursday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is 63.92%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TROW shares. Wells Fargo & Company boosted their target price on T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a research note on Friday, February 9th. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. JPMorgan Chase & Co. boosted their price objective on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research note on Tuesday. TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and boosted their price objective for the company from $92.00 to $114.00 in a research note on Monday, April 8th. Finally, Citigroup boosted their price objective on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Four investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group has a consensus rating of “Hold” and an average price target of $112.67.

About T. Rowe Price Group

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.