Carderock Capital Management Inc. Trims Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Carderock Capital Management Inc. trimmed its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,875 shares of the asset manager’s stock after selling 225 shares during the period. Carderock Capital Management Inc.’s holdings in T. Rowe Price Group were worth $1,117,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of TROW. International Assets Investment Management LLC grew its stake in T. Rowe Price Group by 7,992.0% in the third quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock worth $116,300,000 after purchasing an additional 1,054,461 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position in shares of T. Rowe Price Group by 382.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock worth $43,373,000 after buying an additional 315,581 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of T. Rowe Price Group by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after acquiring an additional 231,286 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in T. Rowe Price Group by 15.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock valued at $185,810,000 after acquiring an additional 220,105 shares during the period. Finally, AQR Capital Management LLC boosted its stake in T. Rowe Price Group by 77.2% during the second quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock worth $52,032,000 after acquiring an additional 196,565 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 1.0 %

Shares of TROW stock opened at $113.21 on Friday. The stock has a market capitalization of $25.15 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.42 and a beta of 1.43. The firm’s 50 day moving average is $117.80 and its 200 day moving average is $112.86. T. Rowe Price Group, Inc. has a 12-month low of $100.49 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.36 by $0.21. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. T. Rowe Price Group’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.17 earnings per share. As a group, equities analysts predict that T. Rowe Price Group, Inc. will post 9.46 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.38%. The ex-dividend date was Friday, December 13th. T. Rowe Price Group’s payout ratio is currently 54.27%.

Insider Transactions at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on TROW. Evercore ISI raised their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. The Goldman Sachs Group lowered their price target on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company cut their price objective on shares of T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Finally, StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $115.82.

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.