59,901 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Acquired by Quinn Opportunity Partners LLC

Quinn Opportunity Partners LLC acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 59,901 shares of the asset manager’s stock, valued at approximately $6,774,000.

Other institutional investors have also recently bought and sold shares of the company. Heritage Trust Co bought a new position in shares of T. Rowe Price Group in the 4th quarter worth $465,000. Covestor Ltd lifted its stake in T. Rowe Price Group by 23.2% in the fourth quarter. Covestor Ltd now owns 1,930 shares of the asset manager’s stock valued at $218,000 after buying an additional 364 shares during the period. Treasurer of the State of North Carolina boosted its holdings in T. Rowe Price Group by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 96,465 shares of the asset manager’s stock worth $10,909,000 after buying an additional 610 shares during the last quarter. F M Investments LLC grew its position in shares of T. Rowe Price Group by 66.1% during the 4th quarter. F M Investments LLC now owns 19,931 shares of the asset manager’s stock worth $2,254,000 after buying an additional 7,928 shares during the period. Finally, DRW Securities LLC bought a new stake in shares of T. Rowe Price Group in the 4th quarter valued at about $265,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the stock in a transaction on Tuesday, February 11th. The shares were 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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert F. Maclellan sold 3,955 shares of the business’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the transaction, the director now owns 42,979 shares in the company, valued at $3,935,157.24. This represents a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $85.94 on Friday. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The stock’s 50 day moving average price is $98.52 and its two-hundred day moving average price is $109.29. The stock has a market capitalization of $19.10 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 2.86 and a beta of 1.50.

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 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 quarter in the prior year, the business posted $1.72 earnings per share. On average, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed 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 represents a $5.08 dividend on an annualized basis and a dividend yield of 5.91%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date was Friday, March 14th. T. Rowe Price Group’s dividend payout ratio is currently 55.46%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TROW. The Goldman Sachs Group reduced their price objective on shares of T. Rowe Price Group from $103.00 to $89.00 and set a “sell” rating on the stock in a research note on Thursday, April 3rd. Bank of America decreased their price target 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. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Wells Fargo & Company decreased their target price on T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, 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 report on Thursday, February 6th. Five analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $104.75.

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.