Raymond James Financial Inc. Invests $32.33 Million in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Raymond James Financial Inc. acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 285,898 shares of the asset manager's stock, valued at approximately $32,332,000. Raymond James Financial Inc. owned 0.13% of T. Rowe Price Group as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TROW. Nilsine Partners LLC lifted its holdings in T. Rowe Price Group by 75.5% during the fourth quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager's stock worth $623,000 after buying an additional 2,370 shares during the period. Principal Financial Group Inc. grew its holdings in shares of 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 buying an additional 7,503 shares during the last quarter. Amundi boosted its holdings in shares of 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 last quarter. Commonwealth Equity Services LLC raised its holdings 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 purchasing an additional 20,062 shares during the last quarter. Finally, Schroder Investment Management Group raised its stake in shares of T. Rowe Price Group by 49.4% during the 4th quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager's stock valued at $25,229,000 after buying an additional 73,307 shares during the last quarter. 73.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on TROW shares. Citigroup dropped their price target on shares of T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Bank of America reduced their price objective on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a report on Thursday, April 3rd. JPMorgan Chase & Co. lowered their price target on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating on the stock in a report on Wednesday. Barclays decreased their price objective on T. Rowe Price Group from $105.00 to $85.00 and set an "underweight" rating for the company in a research report on Wednesday. Finally, The Goldman Sachs Group cut their price target on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a research note on Monday, April 14th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, T. Rowe Price Group has a consensus rating of "Hold" and a consensus target price of $96.00.

Insider Activity

In related news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction on 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 in the company, valued at $4,021,136. The trade was a 10.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the transaction, the director now 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. Insiders own 2.00% of the company's stock.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock traded up $0.74 during trading hours on Friday, reaching $86.11. The company's stock had a trading volume of 4,903,880 shares, compared to its average volume of 1,453,090. The company's 50 day simple moving average is $95.65 and its 200 day simple moving average is $108.41. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The stock has a market cap of $19.14 billion, a P/E ratio of 9.40, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 last year, the business posted $1.72 EPS. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $1.27 per share. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Friday, March 14th. This represents a $5.08 annualized dividend and a yield of 5.90%. T. Rowe Price Group's payout ratio is presently 55.46%.

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.