Fayez Sarofim & Co Increases Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Fayez Sarofim & Co raised its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 7.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,052,469 shares of the asset manager's stock after buying an additional 425,142 shares during the quarter. T. Rowe Price Group accounts for 1.7% of Fayez Sarofim & Co's investment portfolio, making the stock its 18th largest holding. Fayez Sarofim & Co owned about 2.72% of T. Rowe Price Group worth $684,474,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Nilsine Partners LLC raised its holdings in shares of T. Rowe Price Group by 75.5% in the 4th quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager's stock worth $623,000 after acquiring an additional 2,370 shares during the last quarter. Principal Financial Group Inc. grew its holdings in T. Rowe Price Group by 2.8% during the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager's stock valued at $30,062,000 after purchasing an additional 7,503 shares during the period. Amundi raised its stake in 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 acquiring an additional 397,278 shares during the period. Schroder Investment Management Group raised its position in shares of T. Rowe Price Group by 49.4% in the fourth quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager's stock valued at $25,229,000 after purchasing an additional 73,307 shares during the period. Finally, Commonwealth Equity Services LLC lifted its position in shares of T. Rowe Price Group by 5.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager's stock worth $40,436,000 after acquiring an additional 20,062 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Trading Up 3.3 %

Shares of NASDAQ:TROW traded up $2.86 during midday trading on Thursday, reaching $89.52. 1,762,353 shares of the company were exchanged, compared to its average volume of 1,463,623. The stock has a market cap of $19.90 billion, a PE ratio of 9.77, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50. The business's fifty day moving average is $94.35 and its two-hundred day moving average is $107.95. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released 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 net margin of 29.61% and a return on equity of 20.83%. During the same period in the previous year, the firm posted $1.72 EPS. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $1.27 dividend. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.24. The ex-dividend date was Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a yield of 5.67%. T. Rowe Price Group's dividend payout ratio (DPR) is presently 55.46%.

Wall Street Analysts Forecast Growth

TROW has been the subject of several analyst reports. Evercore ISI cut their price target on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a report on Friday, April 11th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $113.00 target price (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. TD Cowen cut their price objective on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Wells Fargo & Company reduced their price target on shares of 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. Finally, JPMorgan Chase & Co. cut their price objective on shares of T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $96.00.

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 dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the sale, the vice president now owns 36,800 shares in the company, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert F. Maclellan sold 3,955 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was 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 $3,935,157.24. This trade represents a 8.43 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

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.