American Century Companies Inc. Sells 58,385 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

American Century Companies Inc. trimmed its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,817,188 shares of the asset manager’s stock after selling 58,385 shares during the quarter. American Century Companies Inc. owned 1.27% of T. Rowe Price Group worth $318,596,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Glenview Trust co raised its stake in shares of T. Rowe Price Group by 2.2% during the 4th quarter. Glenview Trust co now owns 4,318 shares of the asset manager’s stock valued at $488,000 after purchasing an additional 92 shares during the period. MCF Advisors LLC increased its stake in T. Rowe Price Group by 1.5% in the 4th quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock worth $704,000 after acquiring an additional 93 shares during the last quarter. Addison Advisors LLC increased its stake in T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after acquiring an additional 93 shares during the last quarter. Strategy Asset Managers LLC increased its stake in T. Rowe Price Group by 4.6% in the 3rd quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock worth $236,000 after acquiring an additional 95 shares during the last quarter. Finally, Brooklyn Investment Group increased its stake in T. Rowe Price Group by 24.6% in the 4th quarter. Brooklyn Investment Group now owns 497 shares of the asset manager’s stock worth $56,000 after acquiring an additional 98 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the sale, the vice president now owns 36,800 shares in the company, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $92.83 on Friday. The stock has a market capitalization of $20.67 billion, a PE ratio of 10.13, a P/E/G ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 1-year low of $91.37 and a 1-year high of $125.81. The business has a 50-day moving average of $106.39 and a 200 day moving average of $111.14.

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

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $1.27 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 annualized dividend and a yield of 5.47%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TROW shares. Wells Fargo & Company decreased their target price on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Barclays cut their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Morgan Stanley cut their price objective on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Finally, StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $114.09.

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.