UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 387,604 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 28.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,762,910 shares of the asset manager's stock after purchasing an additional 387,604 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.79% of T. Rowe Price Group worth $199,367,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TROW. Norges Bank purchased a new position in T. Rowe Price Group in the 4th quarter worth approximately $117,704,000. Marshall Wace LLP bought a new stake in shares of T. Rowe Price Group during the 4th quarter worth $63,284,000. Fayez Sarofim & Co lifted its holdings in shares of T. Rowe Price Group by 7.6% during the 4th quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager's stock worth $684,474,000 after acquiring an additional 425,142 shares during the last quarter. Amundi grew its position 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 acquiring an additional 397,278 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased 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 last quarter. Institutional investors own 73.39% of the company's stock.

Insider Activity

In related news, insider Jessica M. Hiebler sold 968 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the sale, the insider now owns 13,611 shares of the company's stock, valued at $1,319,994.78. This trade represents a 6.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction on 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 sale, the director now owns 42,979 shares in the company, valued at approximately $3,935,157.24. This trade represents a 8.43% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

TROW has been the subject of several research analyst reports. Citigroup dropped their price target on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Barclays boosted their target price on T. Rowe Price Group from $85.00 to $90.00 and gave the stock an "underweight" rating in a research report on Monday, May 5th. Wall Street Zen cut shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Sunday, February 2nd. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Finally, TD Cowen cut their price objective on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Four analysts have rated the stock with a sell rating and nine have given a hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $94.09.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock traded up $2.51 during trading hours on Tuesday, reaching $95.53. The stock had a trading volume of 655,842 shares, compared to its average volume of 1,491,675. The company has a fifty day simple moving average of $90.66 and a 200-day simple moving average of $104.83. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The stock has a market cap of $21.05 billion, a PE ratio of 10.42, a PEG ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The company had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.80 billion. During the same period last year, the firm earned $2.38 earnings per share. T. Rowe Price Group's quarterly revenue was up .8% on a year-over-year basis. Research analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a $1.27 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.32%. T. Rowe Price Group's dividend payout ratio is currently 57.60%.

T. Rowe Price Group Company 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.