Twin Capital Management Inc. Increases Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Twin Capital Management Inc. increased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 41.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,129 shares of the asset manager's stock after purchasing an additional 9,097 shares during the quarter. Twin Capital Management Inc.'s holdings in T. Rowe Price Group were worth $3,352,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in TROW. Clear Harbor Asset Management LLC lifted its holdings in shares of T. Rowe Price Group by 3.2% in the fourth quarter. Clear Harbor Asset Management LLC now owns 3,240 shares of the asset manager's stock valued at $349,000 after purchasing an additional 100 shares in the last quarter. TCM Advisors LLC lifted its stake in T. Rowe Price Group by 1.5% in the 1st quarter. TCM Advisors LLC now owns 6,900 shares of the asset manager's stock worth $779,000 after acquiring an additional 100 shares in the last quarter. Caprock Group LLC boosted its position in T. Rowe Price Group by 4.7% during the 4th quarter. Caprock Group LLC now owns 2,251 shares of the asset manager's stock worth $242,000 after acquiring an additional 101 shares during the period. Roundview Capital LLC grew its stake in T. Rowe Price Group by 0.5% during the 3rd quarter. Roundview Capital LLC now owns 22,279 shares of the asset manager's stock valued at $2,336,000 after acquiring an additional 105 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV increased its holdings in shares of T. Rowe Price Group by 83.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager's stock valued at $25,000 after purchasing an additional 106 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the transaction, the insider now owns 14,113 shares of the company's stock, valued at approximately $1,511,925.69. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Jessica M. Hiebler sold 1,138 shares of the business's stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the sale, the insider now owns 14,113 shares in the company, valued at approximately $1,511,925.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the company's stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the transaction, the director now directly owns 21,073 shares of the company's stock, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW traded down $2.67 during trading hours on Thursday, hitting $108.72. 2,484,741 shares of the stock were exchanged, compared to its average volume of 1,408,567. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $132.76. The company has a market cap of $24.31 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 2.16 and a beta of 1.40. The company's fifty day simple moving average is $114.67 and its two-hundred day simple moving average is $106.69.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, topping analysts' consensus estimates of $1.60 by $0.12. The company had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.63 billion. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. T. Rowe Price Group's revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.74 EPS. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 8.13 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $1.24 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.56%. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.22. T. Rowe Price Group's dividend payout ratio is 63.92%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. TD Cowen upgraded shares of T. Rowe Price Group from a "sell" rating to a "hold" rating and raised their price target for the stock from $92.00 to $114.00 in a report on Monday, April 8th. StockNews.com downgraded shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Friday, February 9th. Keefe, Bruyette & Woods raised T. Rowe Price Group from an "underperform" rating to a "market perform" rating and lifted their price target for the stock from $106.00 to $120.00 in a research report on Thursday, April 11th. Wells Fargo & Company raised their price objective on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the stock an "underweight" rating in a research note on Friday, February 9th. Finally, Morgan Stanley boosted their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Four equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, T. Rowe Price Group presently has a consensus rating of "Hold" and an average target price of $112.67.

About T. Rowe Price Group

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.