Fidelity National Financial Inc. Takes Position in T. Rowe Price Group, Inc. $TROW

Fidelity National Financial Inc. bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 148,000 shares of the asset manager’s stock, valued at approximately $15,152,000. T. Rowe Price Group accounts for about 0.5% of Fidelity National Financial Inc.’s investment portfolio, making the stock its 14th biggest holding. Fidelity National Financial Inc. owned 0.07% of T. Rowe Price Group as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Goldman Sachs Group Inc. boosted its stake in shares of T. Rowe Price Group by 332.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock valued at $897,880,000 after purchasing an additional 6,740,172 shares during the period. Northern Trust Corp boosted its stake in shares of T. Rowe Price Group by 6.4% in the third quarter. Northern Trust Corp now owns 2,529,116 shares of the asset manager’s stock valued at $259,588,000 after purchasing an additional 152,451 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of T. Rowe Price Group by 3.2% in the third quarter. Dimensional Fund Advisors LP now owns 2,090,249 shares of the asset manager’s stock valued at $214,557,000 after purchasing an additional 64,791 shares during the period. Caisse de depot et placement du Quebec boosted its stake in shares of T. Rowe Price Group by 81.0% in the third quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock valued at $134,142,000 after purchasing an additional 584,949 shares during the period. Finally, Norges Bank purchased a new position in shares of T. Rowe Price Group in the fourth quarter valued at $128,283,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TROW. TD Cowen upped their target price on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the company a “hold” rating in a research note on Friday, May 1st. Jefferies Financial Group decreased their target price on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a research note on Wednesday, April 8th. Zacks Research upgraded shares of T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. decreased their target price on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a research note on Friday, April 24th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the company a “market perform” rating in a research note on Friday, May 1st. Eleven equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Reduce” and an average target price of $100.08.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the sale, the vice president directly owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. This represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by company insiders.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $106.43 on Thursday. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $118.22. The company has a market capitalization of $22.80 billion, a price-to-earnings ratio of 11.41, a price-to-earnings-growth ratio of 5.42 and a beta of 1.50. The company’s fifty day moving average price is $100.06 and its two-hundred day moving average price is $99.50.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the firm posted $2.23 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. As a group, analysts anticipate that T. Rowe Price Group, Inc. will post 9.63 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio is 55.73%.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.