Sovran Advisors LLC Makes New $428,000 Investment in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Sovran Advisors LLC acquired a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,820 shares of the asset manager's stock, valued at approximately $428,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its holdings in shares of T. Rowe Price Group by 7,992.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager's stock worth $116,300,000 after purchasing an additional 1,054,461 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of T. Rowe Price Group by 382.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager's stock valued at $43,373,000 after buying an additional 315,581 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in T. Rowe Price Group by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager's stock valued at $745,169,000 after acquiring an additional 231,286 shares during the period. Franklin Resources Inc. lifted its stake in T. Rowe Price Group by 45.1% during the 3rd quarter. Franklin Resources Inc. now owns 490,155 shares of the asset manager's stock valued at $53,760,000 after acquiring an additional 152,430 shares during the period. Finally, Worldquant Millennium Advisors LLC purchased a new stake in T. Rowe Price Group in the third quarter worth approximately $13,559,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company's stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the sale, the vice president now directly owns 119,577 shares of the company's stock, valued at $14,749,822.95. This represents a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Arif Husain sold 4,112 shares of the company'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 value of $449,318.24. Following the sale, the vice president now directly owns 36,800 shares in the company, valued at $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. Company insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Barclays dropped their price target on T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating on the stock in a research note on Thursday, February 6th. Morgan Stanley boosted their price target on T. Rowe Price Group from $129.00 to $132.00 and gave the company an "equal weight" rating in a research note on Friday, December 20th. Wells Fargo & Company lowered their price objective on shares of T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. StockNews.com cut shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. Finally, TD Cowen reduced their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a "hold" rating for the company in a report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $115.09.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW traded down $0.07 during trading on Friday, hitting $107.17. 1,176,023 shares of the company's stock were exchanged, compared to its average volume of 1,674,756. T. Rowe Price Group, Inc. has a 52-week low of $100.49 and a 52-week high of $125.81. The company has a market cap of $23.81 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.70 and a beta of 1.44. The business's 50-day simple moving average is $114.21 and its 200 day simple moving average is $112.36.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.61%. During the same quarter in the previous year, the company posted $1.72 earnings per share. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.36 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $1.27 dividend. This is an increase from T. Rowe Price Group's previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date of this dividend is Friday, March 14th. T. Rowe Price Group's payout ratio is currently 54.15%.

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.