Touchstone Capital Inc. Has $5.34 Million Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Touchstone Capital Inc. decreased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 49,579 shares of the asset manager’s stock after selling 663 shares during the quarter. T. Rowe Price Group accounts for approximately 5.1% of Touchstone Capital Inc.’s investment portfolio, making the stock its 9th largest position. Touchstone Capital Inc.’s holdings in T. Rowe Price Group were worth $5,339,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of T. Rowe Price Group by 3.2% in the first quarter. Vanguard Group Inc. now owns 20,183,563 shares of the asset manager’s stock valued at $3,051,553,000 after acquiring an additional 625,340 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of T. Rowe Price Group by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock valued at $513,874,000 after buying an additional 134,839 shares during the period. Morgan Stanley grew its holdings in T. Rowe Price Group by 0.7% in the third quarter. Morgan Stanley now owns 3,483,350 shares of the asset manager’s stock worth $365,299,000 after purchasing an additional 25,012 shares during the period. Northern Trust Corp grew its holdings in T. Rowe Price Group by 4.1% in the third quarter. Northern Trust Corp now owns 2,356,132 shares of the asset manager’s stock worth $247,088,000 after purchasing an additional 93,829 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in T. Rowe Price Group by 2.0% in the third quarter. Bank of New York Mellon Corp now owns 2,271,065 shares of the asset manager’s stock worth $238,167,000 after purchasing an additional 44,175 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TROW. Wells Fargo & Company upped their target price on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. increased their price objective on shares of T. Rowe Price Group from $90.00 to $94.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. TD Cowen began coverage on shares of T. Rowe Price Group in a research report on Thursday, January 4th. They set an “underperform” rating and a $88.00 price objective on the stock. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Finally, UBS Group increased their price objective on shares of T. Rowe Price Group from $86.00 to $102.00 and gave the stock a “sell” rating in a research note on Wednesday, January 10th. Six equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Reduce” and a consensus price target of $97.30.

T. Rowe Price Group Trading Up 0.9 %

T. Rowe Price Group stock opened at $121.92 on Friday. The firm has a 50-day moving average price of $112.42 and a 200-day moving average price of $105.66. The firm has a market capitalization of $27.27 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 2.41 and a beta of 1.39. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.12. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the business posted $1.74 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, sell-side analysts predict that T. Rowe Price Group, Inc. will post 7.75 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $1.24 per share. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. The ex-dividend date was Thursday, March 14th. This represents a $4.96 dividend on an annualized basis and a yield of 4.07%. T. Rowe Price Group’s dividend payout ratio (DPR) is 63.92%.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the sale, the director now directly owns 21,073 shares in the company, valued at approximately $2,493,357.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group 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 completion of the sale, the insider now owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

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.