1,040,797 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Acquired by Norges Bank

Norges Bank acquired a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,040,797 shares of the asset manager’s stock, valued at approximately $117,704,000. Norges Bank owned 0.47% of T. Rowe Price Group as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of TROW. Amundi grew its holdings in shares of T. Rowe Price Group by 30.1% in the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock valued at $194,064,000 after buying an additional 397,278 shares during the period. Charles Schwab Investment Management Inc. grew its stake 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 valued at $812,798,000 after acquiring an additional 346,369 shares during the period. L.K. Benson & Company P.C. bought a new stake in shares of T. Rowe Price Group in the fourth quarter worth about $36,643,000. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of T. Rowe Price Group by 382.1% during 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 purchasing an additional 315,581 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of T. Rowe Price Group during the 4th quarter valued at about $32,332,000. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Up 0.3 %

TROW stock opened at $91.87 on Tuesday. The company has a market cap of $20.42 billion, a price-to-earnings ratio of 10.03, a P/E/G ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a twelve month low of $89.70 and a twelve month high of $125.81. The business has a 50 day moving average price of $104.18 and a two-hundred day moving average price of $110.82.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate 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 in the prior year, the firm earned $1.72 earnings per share. On average, equities research 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 announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.53%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date was Friday, March 14th. T. Rowe Price Group’s dividend payout ratio is presently 55.46%.

Analyst Upgrades and Downgrades

TROW has been the topic of several research analyst reports. 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 report on Thursday, February 6th. Morgan Stanley cut their price objective on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. Wells Fargo & Company lowered 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 report on Thursday, February 6th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Finally, StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $111.82.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now owns 36,800 shares in the company, valued at $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is currently owned by company insiders.

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.