Dimensional Fund Advisors LP Boosts Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Dimensional Fund Advisors LP boosted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 21.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,352,683 shares of the asset manager's stock after purchasing an additional 236,697 shares during the period. Dimensional Fund Advisors LP owned about 0.61% of T. Rowe Price Group worth $145,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its stake in shares of T. Rowe Price Group by 8,968.6% in the 4th quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager's stock valued at $97,152,000 after purchasing an additional 892,198 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of T. Rowe Price Group in the third quarter valued at approximately $21,114,000. Charles Schwab Investment Management Inc. boosted its stake in shares of T. Rowe Price Group by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager's stock worth $513,874,000 after acquiring an additional 134,839 shares during the last quarter. Invesco Ltd. raised its stake in T. Rowe Price Group by 7.6% in the 3rd quarter. Invesco Ltd. now owns 1,684,057 shares of the asset manager's stock valued at $176,607,000 after purchasing an additional 119,305 shares during the last quarter. Finally, OLD Republic International Corp purchased a new position in T. Rowe Price Group in the 4th quarter valued at $11,846,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TROW shares. StockNews.com downgraded shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Friday, February 9th. UBS Group boosted their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a "sell" rating in a report on Friday, April 12th. TD Cowen raised T. Rowe Price Group from a "sell" rating to a "hold" rating and increased their price target for the company from $92.00 to $114.00 in a report on Monday, April 8th. Evercore ISI reduced their price objective on T. Rowe Price Group from $110.00 to $107.00 and set an "in-line" rating on the stock in a research report on Tuesday, April 30th. Finally, Wells Fargo & Company upped their target price on T. Rowe Price Group from $105.00 to $108.00 and gave the company an "underweight" rating in a report on Friday, February 9th. Four research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $112.10.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock traded up $0.71 during trading hours on Friday, hitting $116.76. The company's stock had a trading volume of 1,093,124 shares, compared to its average volume of 1,530,038. The stock has a market cap of $26.07 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 2.01 and a beta of 1.40. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $132.76. The firm has a fifty day moving average of $114.95 and a 200-day moving average of $108.76.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, beating analysts' consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The company had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.71 billion. During the same quarter in the prior year, the company posted $1.69 earnings per share. T. Rowe Price Group's revenue for the quarter was up 13.8% compared to the same quarter last year. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 8.74 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be issued a $1.24 dividend. The ex-dividend date is Friday, June 14th. This represents a $4.96 annualized dividend and a yield of 4.25%. T. Rowe Price Group's dividend payout ratio (DPR) is presently 58.91%.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm's stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the transaction, the director now directly owns 21,073 shares in the company, valued at $2,493,357.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the sale, the director now owns 21,073 shares of the company's stock, valued at $2,493,357.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert F. Maclellan sold 3,043 shares of the firm's stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the transaction, the director now directly owns 34,635 shares of the company's stock, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

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.