Renaissance Technologies LLC Has $3.44 Million Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Renaissance Technologies LLC lowered its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 85.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,400 shares of the asset manager's stock after selling 173,300 shares during the quarter. Renaissance Technologies LLC's holdings in T. Rowe Price Group were worth $3,438,000 at the end of the most recent reporting period.

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

T. Rowe Price Group Stock Performance

TROW opened at $86.18 on Wednesday. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The firm has a 50-day moving average of $94.76 and a 200 day moving average of $108.10. The firm has a market cap of $19.15 billion, a P/E ratio of 9.41, a PEG 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 (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 previous year, the business posted $1.72 EPS. Equities research 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 declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $1.27 per share. This is an increase 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 dividend yield of 5.89%. T. Rowe Price Group's dividend payout ratio is presently 55.46%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a research report on Wednesday, April 16th. 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 for the company in a report on Thursday, April 3rd. Morgan Stanley dropped their price target on shares of T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating on the stock in a research report on Monday, February 24th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Finally, Wells Fargo & Company dropped 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 report on Tuesday, April 8th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, T. Rowe Price Group currently has a consensus rating of "Hold" and an average target price of $96.00.

Insider Buying and Selling

In other news, Director Robert F. Maclellan sold 3,955 shares of the business's stock in a transaction that occurred 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 sale, the director now owns 42,979 shares of the company's stock, valued at $3,935,157.24. The trade was a 8.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Arif Husain sold 4,112 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the transaction, the vice president now directly owns 36,800 shares of the company's stock, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

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.

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