Independent Advisor Alliance Raises Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Independent Advisor Alliance increased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 23.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,391 shares of the asset manager's stock after buying an additional 4,603 shares during the quarter. Independent Advisor Alliance's holdings in T. Rowe Price Group were worth $2,758,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in TROW. Daiwa Securities Group Inc. grew its holdings in T. Rowe Price Group by 7.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 29,186 shares of the asset manager's stock valued at $3,301,000 after purchasing an additional 2,064 shares during the period. Taika Capital LP purchased a new position in T. Rowe Price Group during the fourth quarter valued at approximately $3,047,000. United Community Bank bought a new position in shares of T. Rowe Price Group in the fourth quarter worth approximately $1,608,000. Amundi increased its stake in shares of T. Rowe Price Group by 30.1% in the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager's stock worth $194,064,000 after purchasing an additional 397,278 shares in the last quarter. Finally, Lifeworks Advisors LLC bought a new stake in T. Rowe Price Group during the fourth quarter valued at about $209,000. 73.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TROW has been the topic of several recent analyst reports. Morgan Stanley decreased their target price on T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating on the stock in a research note on Monday, February 24th. Barclays dropped their price target on T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating for the company in a research note on Thursday, February 6th. StockNews.com downgraded T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Finally, Wells Fargo & Company dropped their price target on T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. According to data from MarketBeat, T. Rowe Price Group currently has an average rating of "Hold" and a consensus price target of $114.09.

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T. Rowe Price Group Trading Up 1.1 %

Shares of T. Rowe Price Group stock traded up $1.00 on Friday, hitting $93.04. 2,552,180 shares of the company traded hands, compared to its average volume of 1,704,732. T. Rowe Price Group, Inc. has a 52 week low of $91.37 and a 52 week high of $125.81. The stock's 50 day moving average price is $108.27 and its 200-day moving average price is $111.62. The company has a market cap of $20.71 billion, a PE ratio of 10.16, a PEG ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) 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 prior year, the firm earned $1.72 EPS. As a group, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $1.27 dividend. The ex-dividend date is Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.46%. This is an increase from T. Rowe Price Group's previous quarterly dividend of $1.24. T. Rowe Price Group's payout ratio is presently 55.46%.

Insider Buying and Selling

In other news, VP Arif Husain sold 4,112 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the transaction, the vice president now directly owns 36,800 shares of the company's stock, valued at approximately $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is currently owned by company insiders.

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.