Bessemer Group Inc. Lowers Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Bessemer Group Inc. lowered its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 42.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,336 shares of the asset manager's stock after selling 16,700 shares during the period. Bessemer Group Inc.'s holdings in T. Rowe Price Group were worth $2,052,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in T. Rowe Price Group during the 4th quarter valued at about $117,704,000. Marshall Wace LLP purchased a new position in T. Rowe Price Group during the fourth quarter valued at approximately $63,284,000. Fayez Sarofim & Co increased its holdings in T. Rowe Price Group by 7.6% during the fourth quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager's stock valued at $684,474,000 after buying an additional 425,142 shares during the period. Amundi raised its stake in T. Rowe Price Group by 30.1% in the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager's stock worth $194,064,000 after buying an additional 397,278 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in T. Rowe Price Group by 28.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,762,910 shares of the asset manager's stock worth $199,367,000 after buying an additional 387,604 shares during the period. Hedge funds and other institutional investors own 73.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TROW shares. The Goldman Sachs Group reduced their price target on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a research report on Monday, April 14th. Cowen reiterated a "hold" rating on shares of T. Rowe Price Group in a report on Monday, May 5th. Bank of America decreased their price target on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a research report on Thursday, April 3rd. JPMorgan Chase & Co. cut their price objective on shares of T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 16th. Finally, TD Cowen decreased their target price on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Four equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to data from MarketBeat, T. Rowe Price Group presently has a consensus rating of "Hold" and an average target price of $94.09.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 968 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the transaction, the insider now directly owns 13,611 shares in the company, valued at approximately $1,319,994.78. This represents a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert F. Maclellan sold 3,955 shares of the firm's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the transaction, the director now directly owns 42,979 shares in the company, valued at $3,935,157.24. This represents a 8.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,923 shares of company stock worth $646,856 over the last quarter. Insiders own 2.00% of the company's stock.

T. Rowe Price Group Trading Down 0.1%

NASDAQ TROW opened at $96.10 on Friday. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The company has a fifty day simple moving average of $93.03 and a two-hundred day simple moving average of $100.38. The stock has a market cap of $21.17 billion, a P/E ratio of 10.90, a P/E/G ratio of 3.12 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.13 by $0.10. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.80 billion. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The firm's quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the business posted $2.38 EPS. As a group, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date was Friday, June 13th. T. Rowe Price Group's dividend payout ratio (DPR) is 57.60%.

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.

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