Kennondale Capital Management LLC Buys Shares of 18,520 T. Rowe Price Group, Inc. (NASDAQ:TROW)

Kennondale Capital Management LLC bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 18,520 shares of the asset manager’s stock, valued at approximately $2,094,000. T. Rowe Price Group comprises 1.7% of Kennondale Capital Management LLC’s investment portfolio, making the stock its 11th biggest position.

Several other hedge funds and other institutional investors also recently modified their holdings of TROW. Amundi grew its stake in shares of T. Rowe Price Group by 30.1% in the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock valued at $194,064,000 after purchasing an additional 397,278 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of T. Rowe Price Group by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock valued at $812,798,000 after buying an additional 346,369 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of T. Rowe Price Group by 382.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock valued at $43,373,000 after buying an additional 315,581 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of T. Rowe Price Group in the fourth quarter valued at approximately $32,332,000. Finally, Provident Trust Co. boosted its stake in shares of T. Rowe Price Group by 8.9% in the fourth quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock valued at $295,311,000 after buying an additional 213,566 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Transactions at T. Rowe Price Group

In other news, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction 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 transaction, the vice president now directly owns 36,800 shares of the company’s stock, valued at $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Up 1.4 %

NASDAQ TROW opened at $94.31 on Tuesday. T. Rowe Price Group, Inc. has a fifty-two week low of $91.37 and a fifty-two week high of $125.81. The stock has a market cap of $21.00 billion, a price-to-earnings ratio of 10.30, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. The business has a fifty day moving average of $107.87 and a 200-day moving average of $111.57.

T. Rowe Price Group (NASDAQ:TROW) last released 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 period last year, the firm 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 business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.39%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. T. Rowe Price Group’s payout ratio is 55.46%.

T. Rowe Price Group 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.