Guggenheim Capital LLC Grows Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Guggenheim Capital LLC raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 8.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 114,480 shares of the asset manager’s stock after buying an additional 8,474 shares during the quarter. Guggenheim Capital LLC’s holdings in T. Rowe Price Group were worth $12,947,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in TROW. Addison Advisors LLC raised its stake in shares of T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after buying an additional 93 shares in the last quarter. Curio Wealth LLC purchased a new position in T. Rowe Price Group in the fourth quarter worth $27,000. Y.D. More Investments Ltd raised its position in T. Rowe Price Group by 124.0% in the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after acquiring an additional 155 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in T. Rowe Price Group in the fourth quarter valued at $32,000. Finally, Advantage Trust Co boosted its position in shares of T. Rowe Price Group by 48.8% during the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after purchasing an additional 100 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the transaction, the vice president now owns 36,800 shares of the company’s stock, valued at $4,021,136. This represents a 10.05 % decrease in their position. The transaction 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 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 approximately $3,935,157.24. The trade was a 8.43 % 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 insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group cut their price target on shares of T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating for the company in a report on Monday. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Barclays reduced their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Finally, TD Cowen lowered their target price on T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, April 9th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $100.09.

T. Rowe Price Group Stock Down 1.9 %

Shares of NASDAQ:TROW opened at $87.58 on Wednesday. The company has a market capitalization of $19.46 billion, a P/E ratio of 9.56, a P/E/G ratio of 2.86 and a beta of 1.50. The stock’s fifty day simple moving average is $97.08 and its 200-day simple moving average is $108.87. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same quarter last year, the firm earned $1.72 EPS. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid 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 annualized dividend and a yield of 5.80%. The ex-dividend date was Friday, March 14th. T. Rowe Price Group’s payout ratio is presently 55.46%.

About T. Rowe Price Group

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.