Horan Capital Advisors LLC. Has $1.93 Million Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Horan Capital Advisors LLC. reduced its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 9.7% during the 4th quarter, Holdings Channel reports. The fund owned 17,066 shares of the asset manager’s stock after selling 1,827 shares during the quarter. Horan Capital Advisors LLC.’s holdings in T. Rowe Price Group were worth $1,930,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of TROW. Charles Schwab Investment Management Inc. boosted its holdings in shares of T. Rowe Price Group by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock worth $812,798,000 after acquiring an additional 346,369 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in T. Rowe Price Group by 382.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock worth $43,373,000 after purchasing an additional 315,581 shares during the last quarter. Provident Trust Co. raised its position in T. Rowe Price Group by 8.9% in the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock worth $295,311,000 after purchasing an additional 213,566 shares during the last quarter. Los Angeles Capital Management LLC raised its position in T. Rowe Price Group by 70.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 490,059 shares of the asset manager’s stock worth $55,421,000 after purchasing an additional 201,802 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in T. Rowe Price Group by 45.1% in the 3rd quarter. Franklin Resources Inc. now owns 490,155 shares of the asset manager’s stock worth $53,760,000 after purchasing an additional 152,430 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now owns 36,800 shares in the company, valued at $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 is available at the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now owns 119,577 shares of the company’s stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Trading Down 1.7 %

TROW stock opened at $103.88 on Tuesday. The stock has a 50-day moving average price of $111.51 and a two-hundred day moving average price of $112.39. The stock has a market cap of $23.13 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 2.86 and a beta of 1.44. T. Rowe Price Group, Inc. has a 1 year low of $100.49 and a 1 year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results 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 return on equity of 20.83% and a net margin of 29.61%. During the same period in the prior year, the firm posted $1.72 EPS. On average, analysts forecast 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders 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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 annualized dividend and a dividend yield of 4.89%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.46%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TROW shares. Morgan Stanley dropped their price objective on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. JPMorgan Chase & Co. dropped their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Evercore ISI upped their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $113.00 target price (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $114.09.

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.