Quinn Opportunity Partners LLC Acquires Shares of 59,901 T. Rowe Price Group, Inc. (NASDAQ:TROW)

Quinn Opportunity Partners LLC acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 59,901 shares of the asset manager's stock, valued at approximately $6,774,000.

Several other large investors also recently made changes to their positions in TROW. Glenview Trust co increased its holdings in shares of T. Rowe Price Group by 2.2% during the fourth quarter. Glenview Trust co now owns 4,318 shares of the asset manager's stock valued at $488,000 after acquiring an additional 92 shares in the last quarter. MCF Advisors LLC raised its holdings in T. Rowe Price Group by 1.5% during the fourth quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager's stock worth $704,000 after buying an additional 93 shares during the last quarter. Addison Advisors LLC lifted its stake in shares of T. Rowe Price Group by 67.4% in the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock valued at $26,000 after buying an additional 93 shares in the last quarter. Brooklyn Investment Group grew its holdings in shares of T. Rowe Price Group by 24.6% during the fourth quarter. Brooklyn Investment Group now owns 497 shares of the asset manager's stock valued at $56,000 after buying an additional 98 shares during the last quarter. Finally, Advantage Trust Co increased its position in shares of T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock worth $34,000 after acquiring an additional 100 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. StockNews.com downgraded T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. Wells Fargo & Company cut their target price on T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Bank of America reduced their target price on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a research note on Thursday, April 3rd. Morgan Stanley lowered 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 report on Monday, February 24th. Finally, The Goldman Sachs Group cut their price target on shares of T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating on the stock in a report on Monday. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $100.09.

T. Rowe Price Group Stock Down 1.9 %

Shares of T. Rowe Price Group stock traded down $1.74 during trading hours on Tuesday, reaching $87.58. 1,844,884 shares of the stock traded hands, compared to its average volume of 1,443,041. The company has a 50 day moving average price of $97.55 and a 200 day moving average price of $109.02. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The firm has a market capitalization of $19.46 billion, a price-to-earnings ratio of 9.56, a P/E/G ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate 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 firm posted $1.72 EPS. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $1.27 dividend. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date of this dividend was Friday, March 14th. T. Rowe Price Group's dividend payout ratio is presently 55.46%.

Insider Buying and Selling

In related news, VP Arif Husain sold 4,112 shares of the company's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the sale, the vice president now owns 36,800 shares of the company's stock, valued at $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the transaction, the director now directly owns 42,979 shares of the company's stock, valued at approximately $3,935,157.24. The trade was a 8.43 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

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.