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

Sovran Advisors LLC acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 4th quarter, according to its most recent Form 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.

Several other institutional investors and hedge funds have also recently modified their holdings of TROW. Iron Horse Wealth Management LLC increased its holdings in T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after purchasing an additional 110 shares during the period. Y.D. More Investments Ltd grew its position in shares of T. Rowe Price Group by 124.0% during the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after buying an additional 155 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in shares of T. Rowe Price Group during the 4th quarter worth $32,000. True Wealth Design LLC purchased a new stake in T. Rowe Price Group in the third quarter worth about $37,000. Finally, Larson Financial Group LLC lifted its stake in T. Rowe Price Group by 866.7% in the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after acquiring an additional 312 shares during the period. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Down 1.9 %

Shares of NASDAQ:TROW opened at $106.92 on Thursday. T. Rowe Price Group, Inc. has a 52-week low of $100.49 and a 52-week high of $125.81. The stock has a market cap of $23.75 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 1.70 and a beta of 1.44. The business has a 50-day moving average price of $115.21 and a 200-day moving average price of $112.48.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data 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 net margin of 29.61% and a return on equity of 20.91%. During the same quarter last year, the firm earned $1.72 EPS. As a group, equities 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 announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $1.27 dividend. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.75%. T. Rowe Price Group’s dividend payout ratio is presently 54.15%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TROW shares. JPMorgan Chase & Co. cut their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Morgan Stanley upped their price objective on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. TD Cowen decreased their price objective on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $115.09.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Arif Husain sold 4,112 shares of the business’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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the sale, the vice president now owns 119,577 shares of the company’s stock, valued at $14,749,822.95. This trade represents a 3.27 % 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 corporate 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.