Heritage Investors Management Corp Lowers Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Heritage Investors Management Corp lowered its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 181,823 shares of the asset manager’s stock after selling 5,981 shares during the period. Heritage Investors Management Corp’s holdings in T. Rowe Price Group were worth $20,562,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in T. Rowe Price Group by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock valued at $745,169,000 after purchasing an additional 231,286 shares during the period. Geode Capital Management LLC raised its position in shares of T. Rowe Price Group by 0.5% in the third quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager’s stock worth $598,801,000 after buying an additional 25,481 shares in the last quarter. Provident Trust Co. boosted its stake in T. Rowe Price Group by 8.9% during the fourth quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock valued at $295,311,000 after buying an additional 213,566 shares during the period. Fisher Asset Management LLC boosted its stake in T. Rowe Price Group by 2.6% during the third quarter. Fisher Asset Management LLC now owns 1,861,454 shares of the asset manager’s stock valued at $202,768,000 after buying an additional 47,998 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in T. Rowe Price Group by 4.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,375,306 shares of the asset manager’s stock worth $149,812,000 after buying an additional 53,997 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the transaction, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the sale, the vice president now owns 36,800 shares of the company’s stock, valued at $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Barclays lowered their price target on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Evercore ISI raised their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. cut their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their price target on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Finally, TD Cowen dropped their price objective on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $114.09.

T. Rowe Price Group Stock Down 1.4 %

Shares of NASDAQ:TROW opened at $104.74 on Thursday. The company’s fifty day moving average is $112.14 and its 200 day moving average is $112.38. T. Rowe Price Group, Inc. has a 52 week low of $100.49 and a 52 week high of $125.81. The stock has a market cap of $23.32 billion, a PE ratio of 11.43, a PEG ratio of 2.86 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period in the previous year, the company posted $1.72 earnings per share. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date is Friday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio is 55.46%.

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.