T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 37.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 5,769 shares of the asset manager’s stock after selling 3,458 shares during the quarter. Meeder Asset Management Inc.’s holdings in T. Rowe Price Group were worth $652,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of TROW. Townsquare Capital LLC boosted its stake in T. Rowe Price Group by 6.6% during the 3rd quarter. Townsquare Capital LLC now owns 4,839 shares of the asset manager’s stock worth $527,000 after purchasing an additional 299 shares during the period. Bridgewater Associates LP raised its holdings in shares of T. Rowe Price Group by 794.1% in the third quarter. Bridgewater Associates LP now owns 15,879 shares of the asset manager’s stock valued at $1,730,000 after buying an additional 14,103 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of T. Rowe Price Group by 6.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,737 shares of the asset manager’s stock worth $6,725,000 after buying an additional 3,969 shares during the period. Public Sector Pension Investment Board grew its holdings in shares of T. Rowe Price Group by 2.4% during the third quarter. Public Sector Pension Investment Board now owns 38,778 shares of the asset manager’s stock worth $4,224,000 after buying an additional 900 shares during the last quarter. Finally, Martingale Asset Management L P acquired a new position in T. Rowe Price Group in the 3rd quarter valued at about $446,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Up 0.3 %

Shares of NASDAQ:TROW opened at $91.87 on Tuesday. The business has a fifty day simple moving average of $104.18 and a 200-day simple moving average of $110.82. T. Rowe Price Group, Inc. has a 52 week low of $89.70 and a 52 week high of $125.81. The company has a market cap of $20.42 billion, a P/E ratio of 10.03, a P/E/G ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the company posted $1.72 EPS. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $1.27 dividend. 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. This represents a $5.08 annualized dividend and a yield of 5.53%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.46%.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, 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 value of $449,318.24. Following the transaction, the vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Keefe, Bruyette & Woods reiterated 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. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Wells Fargo & Company dropped their price objective 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. Morgan Stanley reduced their target price on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Finally, Citigroup dropped their price target on shares of T. Rowe Price Group from $120.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $111.82.

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.