Twin Capital Management Inc. Buys 9,097 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Twin Capital Management Inc. grew its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 41.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,129 shares of the asset manager’s stock after purchasing an additional 9,097 shares during the quarter. Twin Capital Management Inc.’s holdings in T. Rowe Price Group were worth $3,352,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Simmons Bank raised its holdings in T. Rowe Price Group by 23.0% in the 3rd quarter. Simmons Bank now owns 3,503 shares of the asset manager’s stock worth $367,000 after purchasing an additional 656 shares in the last quarter. L. Roy Papp & Associates LLP increased its stake in shares of T. Rowe Price Group by 5.8% in the 4th quarter. L. Roy Papp & Associates LLP now owns 158,875 shares of the asset manager’s stock worth $17,109,000 after acquiring an additional 8,773 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of T. Rowe Price Group by 3.5% in the 4th quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock worth $34,299,000 after acquiring an additional 10,680 shares in the last quarter. Vest Financial LLC increased its stake in shares of T. Rowe Price Group by 48.8% in the 4th quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock worth $30,213,000 after acquiring an additional 92,059 shares in the last quarter. Finally, Cullen Investment Group LTD. bought a new position in shares of T. Rowe Price Group in the 4th quarter worth about $953,000. 73.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TROW has been the subject of several research reports. UBS Group increased their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Citigroup increased their price objective on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Wells Fargo & Company increased their price objective on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. Finally, Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $106.00 to $120.00 in a research report on Thursday, April 11th. Four investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group has an average rating of “Hold” and an average price target of $112.67.

T. Rowe Price Group Stock Down 2.3 %

Shares of NASDAQ TROW traded down $2.52 during trading on Thursday, reaching $108.87. 1,130,421 shares of the company traded hands, compared to its average volume of 1,389,049. The firm has a 50 day simple moving average of $114.67 and a 200-day simple moving average of $106.69. The stock has a market capitalization of $24.35 billion, a PE ratio of 14.35, a P/E/G ratio of 2.16 and a beta of 1.40. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.12. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.74 EPS. As a group, research analysts predict that T. Rowe Price Group, Inc. will post 8.13 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $1.24 dividend. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.56%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 63.92%.

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the transaction, the insider now owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the sale, the director now owns 21,073 shares in the company, valued at approximately $2,493,357.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the sale, the insider now owns 14,113 shares in the company, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

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.