OLD National Bancorp IN Boosts Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

OLD National Bancorp IN increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.5% during the 4th quarter, HoldingsChannel reports. The fund owned 59,116 shares of the asset manager’s stock after acquiring an additional 2,008 shares during the quarter. OLD National Bancorp IN’s holdings in T. Rowe Price Group were worth $6,366,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of TROW. Simmons Bank boosted its holdings in T. Rowe Price Group by 23.0% in the 3rd quarter. Simmons Bank now owns 3,503 shares of the asset manager’s stock valued at $367,000 after purchasing an additional 656 shares during the last quarter. L. Roy Papp & Associates LLP increased its holdings in shares of T. Rowe Price Group by 5.8% during the 4th quarter. L. Roy Papp & Associates LLP now owns 158,875 shares of the asset manager’s stock worth $17,109,000 after buying an additional 8,773 shares during the last quarter. Nordea Investment Management AB raised its position in shares of T. Rowe Price Group by 3.5% during the 4th quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock valued at $34,299,000 after buying an additional 10,680 shares during the period. Vest Financial LLC lifted its holdings in T. Rowe Price Group by 48.8% in the fourth quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock valued at $30,213,000 after acquiring an additional 92,059 shares during the last quarter. Finally, Cullen Investment Group LTD. acquired a new stake in T. Rowe Price Group during the fourth quarter worth $953,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Up 0.3 %

T. Rowe Price Group stock traded up $0.37 during mid-day trading on Monday, reaching $109.10. 253,538 shares of the company’s stock were exchanged, compared to its average volume of 1,396,939. The company has a fifty day moving average of $114.72 and a 200-day moving average of $106.82. The company has a market cap of $24.40 billion, a P/E ratio of 14.01, a P/E/G ratio of 2.04 and a beta of 1.40. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, topping the consensus estimate of $1.60 by $0.12. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.74 EPS. Equities research analysts expect that T. Rowe Price Group, Inc. will post 8.36 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.55%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend was Thursday, March 14th. T. Rowe Price Group’s dividend payout ratio is presently 63.92%.

Insider Buying and Selling

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of the business’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 transaction of $121,913.94. Following the completion of the transaction, the insider now owns 14,113 shares in the company, valued at approximately $1,511,925.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was 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. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TROW. Morgan Stanley upped their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. Citigroup increased their target price on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Wells Fargo & Company boosted their price target on shares of 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. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their price objective for the stock from $92.00 to $114.00 in a report on Monday, April 8th. Finally, StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Four analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, the stock currently 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.