UniSuper Management Pty Ltd Acquires 2,731 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

UniSuper Management Pty Ltd increased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 13.4% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 23,092 shares of the asset manager’s stock after buying an additional 2,731 shares during the quarter. UniSuper Management Pty Ltd’s holdings in T. Rowe Price Group were worth $2,611,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of TROW. Addison Advisors LLC grew its stake in shares of T. Rowe Price Group by 67.4% in the fourth 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 period. Curio Wealth LLC bought a new stake in T. Rowe Price Group in the 4th quarter worth approximately $27,000. Y.D. More Investments Ltd raised its stake in T. Rowe Price Group by 124.0% during the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after buying an additional 155 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in shares of T. Rowe Price Group during the 4th quarter valued at $32,000. Finally, Advantage Trust Co boosted its stake in shares of T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Activity

In other news, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were 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 directly owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

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

T. Rowe Price Group Price Performance

Shares of TROW opened at $91.57 on Friday. The company has a 50 day simple moving average of $104.61 and a two-hundred day simple moving average of $110.87. T. Rowe Price Group, Inc. has a 1 year low of $91.10 and a 1 year high of $125.81. The firm has a market cap of $20.35 billion, a P/E ratio of 10.00, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last announced 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 quarter in the previous year, the company posted $1.72 earnings per share. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 5.55%. The ex-dividend date of this dividend was 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 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.