Sprucegrove Investment Management Ltd. Sells 104,210 Shares of T. Rowe Price Group, Inc. $TROW

Sprucegrove Investment Management Ltd. lowered its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 64.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 58,158 shares of the asset manager's stock after selling 104,210 shares during the quarter. T. Rowe Price Group comprises approximately 0.7% of Sprucegrove Investment Management Ltd.'s portfolio, making the stock its 15th largest holding. Sprucegrove Investment Management Ltd.'s holdings in T. Rowe Price Group were worth $5,954,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Woodline Partners LP grew its holdings in shares of T. Rowe Price Group by 41.0% during the first quarter. Woodline Partners LP now owns 18,809 shares of the asset manager's stock worth $1,728,000 after purchasing an additional 5,467 shares in the last quarter. Focus Partners Wealth lifted its position in T. Rowe Price Group by 10.6% during the first quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager's stock valued at $1,199,000 after purchasing an additional 1,250 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in T. Rowe Price Group by 44.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager's stock worth $149,000 after buying an additional 478 shares in the last quarter. Jump Financial LLC bought a new position in shares of T. Rowe Price Group in the 2nd quarter worth $931,000. Finally, Daiwa Securities Group Inc. raised its position in shares of T. Rowe Price Group by 5.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager's stock valued at $3,208,000 after buying an additional 1,703 shares in the last quarter. Institutional investors own 73.39% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Barclays upped their target price on shares of T. Rowe Price Group from $87.00 to $89.00 and gave the stock an "underweight" rating in a research report on Friday. Evercore set a $104.00 price target on T. Rowe Price Group in a research note on Friday. The Goldman Sachs Group upped their price objective on T. Rowe Price Group from $85.00 to $90.00 in a report on Friday, May 1st. Keefe, Bruyette & Woods increased their price objective on T. Rowe Price Group from $95.00 to $107.00 and gave the company a "market perform" rating in a research report on Friday, May 1st. Finally, BMO Capital Markets raised their price objective on T. Rowe Price Group from $98.00 to $110.00 and gave the company a "market perform" rating in a report on Monday. Ten analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $99.54.

T. Rowe Price Group Trading Up 1.0%

NASDAQ TROW opened at $104.11 on Wednesday. The firm has a market cap of $22.31 billion, a PE ratio of 11.16, a price-to-earnings-growth ratio of 4.53 and a beta of 1.51. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $118.22. The stock has a 50-day moving average of $93.04 and a 200-day moving average of $99.18.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.15. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the company earned $2.23 EPS. T. Rowe Price Group's revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.57 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Monday, March 16th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Monday, March 16th. This is an increase from T. Rowe Price Group's previous quarterly dividend of $1.27. T. Rowe Price Group's dividend payout ratio is currently 55.73%.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm's product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.