T. Rowe Price Group, Inc. (NASDAQ:TROW) Position Boosted by Cullen Investment Group LTD.

Cullen Investment Group LTD. increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,437 shares of the asset manager’s stock after acquiring an additional 111 shares during the period. Cullen Investment Group LTD.’s holdings in T. Rowe Price Group were worth $1,520,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC grew its position in shares of T. Rowe Price Group by 7,992.0% in the third quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock valued at $116,300,000 after purchasing an additional 1,054,461 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in T. Rowe Price Group by 382.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock valued at $43,373,000 after buying an additional 315,581 shares during the period. Charles Schwab Investment Management Inc. raised its stake in T. Rowe Price Group by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after acquiring an additional 231,286 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of T. Rowe Price Group by 15.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock worth $185,810,000 after purchasing an additional 220,105 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of T. Rowe Price Group by 77.2% during the second quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock worth $52,032,000 after purchasing an additional 196,565 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now owns 119,577 shares of the company’s stock, valued at $14,749,822.95. This represents a 3.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $110.63 on Tuesday. The company has a market cap of $24.58 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 1.73 and a beta of 1.43. T. Rowe Price Group, Inc. has a fifty-two week low of $100.49 and a fifty-two week high of $125.81. The stock has a fifty day moving average price of $118.17 and a 200-day moving average price of $112.88.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the previous year, the company posted $2.17 EPS. T. Rowe Price Group’s quarterly revenue was up 6.9% compared to the same quarter last year. Research analysts predict that T. Rowe Price Group, Inc. will post 9.39 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.48%. The ex-dividend date was Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is currently 54.27%.

Wall Street Analyst Weigh In

TROW has been the subject of several analyst reports. Barclays lifted their price target on shares of T. Rowe Price Group from $110.00 to $115.00 and gave the stock an “underweight” rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods reduced their price objective on T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a research report on Monday. Evercore ISI lifted their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Finally, JPMorgan Chase & Co. dropped their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $116.55.

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.