Wellington Management Group LLP Grows Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Wellington Management Group LLP increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 30.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,092 shares of the asset manager's stock after acquiring an additional 16,999 shares during the period. Wellington Management Group LLP's holdings in T. Rowe Price Group were worth $8,153,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of TROW. Addison Advisors LLC lifted its position in shares of T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock valued at $26,000 after buying an additional 93 shares in the last quarter. Curio Wealth LLC purchased a new position in T. Rowe Price Group during the fourth quarter valued at $27,000. Y.D. More Investments Ltd grew its position in shares of T. Rowe Price Group by 124.0% in the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock valued at $32,000 after purchasing an additional 155 shares during the period. Stonebridge Financial Group LLC purchased a new stake in shares of T. Rowe Price Group during the fourth quarter worth about $32,000. Finally, Advantage Trust Co raised its position in shares of T. Rowe Price Group by 48.8% during the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock worth $34,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

Insider Buying and Selling at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,955 shares of the 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 $3,935,157.24. This represents a 8.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, May 12th. The shares were 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 in the company, valued at approximately $1,319,994.78. This trade represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Bank of America cut their price objective on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a research note on Thursday, April 3rd. Cowen reissued a "hold" rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. Morgan Stanley increased their price objective on T. Rowe Price Group from $94.00 to $95.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Wells Fargo & Company reduced their price objective on T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Finally, Citigroup reduced their price objective 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. Four research analysts have rated the stock with a sell rating and nine have given a hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $94.09.

T. Rowe Price Group Trading Up 1.1%

T. Rowe Price Group stock traded up $1.04 during midday trading on Friday, reaching $94.28. 1,295,996 shares of the stock traded hands, compared to its average volume of 1,506,144. The company has a 50-day simple moving average of $90.71 and a two-hundred day simple moving average of $103.49. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The firm has a market cap of $20.77 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 2.86 and a beta of 1.49.

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

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date is Friday, June 13th. T. Rowe Price Group's dividend payout ratio is currently 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.