Columbia Asset Management Has $1.04 Million Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Columbia Asset Management grew its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,209 shares of the asset manager’s stock after acquiring an additional 155 shares during the quarter. Columbia Asset Management’s holdings in T. Rowe Price Group were worth $1,041,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Groupama Asset Managment bought a new position in shares of T. Rowe Price Group during the 4th quarter worth about $762,000. OV Management LLC raised its position in T. Rowe Price Group by 8.8% in the fourth quarter. OV Management LLC now owns 14,333 shares of the asset manager’s stock worth $1,621,000 after purchasing an additional 1,163 shares in the last quarter. Geode Capital Management LLC lifted its stake in T. Rowe Price Group by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager’s stock worth $635,260,000 after purchasing an additional 116,231 shares during the period. National Bank of Canada FI boosted its holdings in T. Rowe Price Group by 8.3% during the fourth quarter. National Bank of Canada FI now owns 200,812 shares of the asset manager’s stock valued at $22,720,000 after purchasing an additional 15,359 shares in the last quarter. Finally, HighPoint Advisor Group LLC grew its stake in shares of T. Rowe Price Group by 18.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 6,590 shares of the asset manager’s stock valued at $719,000 after purchasing an additional 1,043 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Morgan Stanley cut their target price on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. Barclays reduced their target price on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. Wells Fargo & Company dropped their target price on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set 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 investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $111.82.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group 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 sale, the director now owns 42,979 shares of the company’s stock, valued at approximately $3,935,157.24. The trade was a 8.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Arif Husain sold 4,112 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the transaction, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

TROW opened at $92.27 on Wednesday. The stock has a market capitalization of $20.51 billion, a P/E ratio of 10.07, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. The company’s 50 day simple moving average is $103.75 and its 200-day simple moving average is $110.74. T. Rowe Price Group, Inc. has a one year low of $89.70 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing analysts’ consensus estimates 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 prior year, the business earned $1.72 earnings per share. As a group, analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 5.51%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date was Friday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 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.