Advisors Asset Management Inc. Has $8.13 Million Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Advisors Asset Management Inc. raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 71,928 shares of the asset manager’s stock after buying an additional 5,110 shares during the period. Advisors Asset Management Inc.’s holdings in T. Rowe Price Group were worth $8,134,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TROW. Nilsine Partners LLC grew its position in T. Rowe Price Group by 75.5% during 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. increased its holdings in T. Rowe Price Group by 2.8% in 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 increased its holdings in T. Rowe Price Group by 30.1% in the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock valued at $194,064,000 after purchasing an additional 397,278 shares during the period. Janus Henderson Group PLC raised its position in T. Rowe Price Group by 3.8% during the 3rd quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock worth $3,267,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in T. Rowe Price Group by 5.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager’s stock worth $40,436,000 after buying an additional 20,062 shares during the period. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Down 0.8 %

TROW opened at $93.60 on Wednesday. The company has a fifty day moving average price of $107.48 and a two-hundred day moving average price of $111.48. T. Rowe Price Group, Inc. has a 1-year low of $91.37 and a 1-year high of $125.81. The company has a market cap of $20.84 billion, a P/E ratio of 10.22, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Wednesday, February 5th. The asset manager reported $2.12 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 in the prior year, the business earned $1.72 earnings per share. On average, research analysts forecast 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 announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $1.27 dividend. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date is Friday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.46%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TROW shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Wells Fargo & Company lowered their price target on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Barclays lowered their target price on shares of 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. Finally, Morgan Stanley cut 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. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $114.09.

Insider Activity at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the firm’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 transaction, the vice president now owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by 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.