ProShare Advisors LLC Raises Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

ProShare Advisors LLC lifted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 8.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,734,620 shares of the asset manager's stock after purchasing an additional 130,936 shares during the period. ProShare Advisors LLC owned 0.78% of T. Rowe Price Group worth $196,168,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Barclays PLC boosted its holdings in T. Rowe Price Group by 13.6% in the third quarter. Barclays PLC now owns 822,869 shares of the asset manager's stock valued at $89,635,000 after purchasing an additional 98,448 shares during the last quarter. Principal Financial Group Inc. lifted its stake in T. Rowe Price Group by 2.8% in the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager's stock valued at $30,062,000 after buying an additional 7,503 shares in the last quarter. Czech National Bank lifted its stake in T. Rowe Price Group by 6.2% in the 4th quarter. Czech National Bank now owns 48,169 shares of the asset manager's stock valued at $5,447,000 after buying an additional 2,824 shares in the last quarter. Cooper Financial Group purchased a new position in T. Rowe Price Group in the 4th quarter valued at about $240,000. Finally, Miracle Mile Advisors LLC lifted its stake in T. Rowe Price Group by 54.6% in the 4th quarter. Miracle Mile Advisors LLC now owns 3,693 shares of the asset manager's stock valued at $418,000 after buying an additional 1,304 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

Insider Buying and Selling

In related news, Director Robert F. Maclellan sold 3,955 shares of the business's 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 transaction, the director now owns 42,979 shares in the company, valued at approximately $3,935,157.24. The trade was a 8.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 968 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the transaction, the insider now owns 13,611 shares of the company's stock, valued at approximately $1,319,994.78. The trade was a 6.64% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. TD Cowen lowered their target price on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Wells Fargo & Company lowered their target price on T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Cowen restated a "hold" rating on shares of T. Rowe Price Group in a report on Monday, May 5th. StockNews.com cut T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Sunday, February 2nd. Finally, Bank of America decreased their price objective on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a report on Thursday, April 3rd. Four investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $94.09.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock traded up $0.41 during trading hours on Friday, reaching $98.06. 1,493,466 shares of the company were exchanged, compared to its average volume of 1,488,587. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The stock's fifty day moving average is $90.46 and its 200 day moving average is $105.75. The firm has a market cap of $21.60 billion, a PE ratio of 10.71, a PEG ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the company earned $2.38 earnings per share. The company's revenue was up .8% on a year-over-year basis. Research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a dividend of $1.27 per share. 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 5.18%. T. Rowe Price Group's 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.