Sequoia Financial Advisors LLC Increases Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Sequoia Financial Advisors LLC increased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 31.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,645 shares of the asset manager’s stock after acquiring an additional 878 shares during the period. Sequoia Financial Advisors LLC’s holdings in T. Rowe Price Group were worth $393,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. OFI Invest Asset Management bought a new position in shares of T. Rowe Price Group in the third quarter valued at approximately $25,000. Creative Financial Designs Inc. ADV grew its holdings in shares of T. Rowe Price Group by 83.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 106 shares in the last quarter. PCA Investment Advisory Services Inc. bought a new position in shares of T. Rowe Price Group in the second quarter valued at approximately $26,000. Park Place Capital Corp grew its holdings in shares of T. Rowe Price Group by 1,775.0% in the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 284 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new position in shares of T. Rowe Price Group in the fourth quarter valued at approximately $33,000. 73.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TROW shares. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Morgan Stanley increased their price objective on T. Rowe Price Group from $101.00 to $106.00 and gave the company an “equal weight” rating in a report on Friday, January 19th. TD Cowen raised T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their price objective for the company from $92.00 to $114.00 in a report on Monday, April 8th. UBS Group increased their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a report on Friday, April 12th. Finally, Wells Fargo & Company increased their price objective on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, February 9th. Four analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and an average price target of $110.56.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $111.39 on Thursday. The company has a market cap of $24.91 billion, a P/E ratio of 14.35, a P/E/G ratio of 2.16 and a beta of 1.40. The stock’s fifty day moving average price is $114.67 and its two-hundred day moving average price is $106.69. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.12. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.74 earnings per share. On average, analysts expect that T. Rowe Price Group, Inc. will post 8.13 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s dividend payout ratio (DPR) is 63.92%.

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the sale, the insider now owns 14,113 shares in the company, valued at $1,511,925.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the sale, the insider now owns 14,113 shares in the company, valued at $1,511,925.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the sale, the director now owns 21,073 shares in the company, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

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.