Pittenger & Anderson Inc. Has $868,000 Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Pittenger & Anderson Inc. cut its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 72.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,059 shares of the asset manager's stock after selling 21,360 shares during the period. Pittenger & Anderson Inc.'s holdings in T. Rowe Price Group were worth $868,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management purchased a new position in T. Rowe Price Group in the third quarter valued at $25,000. Creative Financial Designs Inc. ADV raised its stake in T. Rowe Price Group by 83.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager's stock valued at $25,000 after buying an additional 106 shares in the last quarter. Park Place Capital Corp raised its stake in T. Rowe Price Group by 1,775.0% in the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager's stock valued at $32,000 after buying an additional 284 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in T. Rowe Price Group in the fourth quarter valued at $33,000. Finally, NBC Securities Inc. acquired a new stake in T. Rowe Price Group in the third quarter valued at $39,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. UBS Group raised their price target on T. Rowe Price Group from $100.00 to $109.00 and gave the company a "sell" rating in a research note on Friday, April 12th. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an "underperform" rating to a "market perform" rating and raised their price target for the company from $106.00 to $120.00 in a research note on Thursday, April 11th. Citigroup raised their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the company a "neutral" rating in a research note on Friday, April 5th. Morgan Stanley lifted their target price on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 17th. Finally, TD Cowen upgraded T. Rowe Price Group from a "sell" rating to a "hold" rating and lifted their target price for the stock from $92.00 to $114.00 in a research report on Monday, April 8th. Four equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, T. Rowe Price Group presently has an average rating of "Hold" and an average price target of $112.67.

T. Rowe Price Group Trading Down 2.0 %

Shares of NASDAQ:TROW traded down $2.23 during trading on Thursday, hitting $108.83. 2,161,391 shares of the stock were exchanged, compared to its average volume of 1,424,685. The company has a fifty day moving average price of $115.00 and a two-hundred day moving average price of $107.00. The company has a market cap of $24.34 billion, a PE ratio of 14.02, a P/E/G ratio of 2.10 and a beta of 1.40. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $132.76.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, topping the consensus estimate of $1.60 by $0.12. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the company earned $1.74 EPS. The company's quarterly revenue was up 6.5% on a year-over-year basis. Equities research analysts anticipate that T. Rowe Price Group, Inc. will post 8.36 earnings per share 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. Investors of record on Friday, March 15th were paid 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 yield of 4.56%. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.22. T. Rowe Price Group's dividend payout ratio is presently 63.92%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the business's stock in a transaction on 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 in the company, valued at approximately $2,493,357.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the business's stock in a transaction on 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 in the company, valued at approximately $2,493,357.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jessica M. Hiebler sold 1,138 shares of the business's stock in a transaction 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 $1,511,925.69. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

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.