Securian Asset Management Inc. Has $1.35 Million Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Securian Asset Management Inc. reduced its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,939 shares of the asset manager’s stock after selling 352 shares during the quarter. Securian Asset Management Inc.’s holdings in T. Rowe Price Group were worth $1,350,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. MCF Advisors LLC lifted its stake in shares of T. Rowe Price Group by 1.5% in the fourth quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock worth $704,000 after acquiring an additional 93 shares during the period. Addison Advisors LLC lifted its stake in shares of T. Rowe Price Group by 67.4% in the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after acquiring an additional 93 shares during the period. Strategy Asset Managers LLC lifted its stake in shares of T. Rowe Price Group by 4.6% in the third quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock worth $236,000 after acquiring an additional 95 shares during the period. Brooklyn Investment Group lifted its stake in shares of T. Rowe Price Group by 24.6% in the fourth quarter. Brooklyn Investment Group now owns 497 shares of the asset manager’s stock worth $56,000 after acquiring an additional 98 shares during the period. Finally, Advantage Trust Co lifted its stake in shares of T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after acquiring an additional 100 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the sale, the vice president now owns 36,800 shares in the company, valued at approximately $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Morgan Stanley dropped their price target on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. 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 note on Thursday, February 6th. Wells Fargo & Company dropped their price target on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Finally, StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat, T. Rowe Price Group has an average rating of “Hold” and an average target price of $114.09.

T. Rowe Price Group Stock Up 1.1 %

NASDAQ TROW opened at $93.04 on Friday. The company has a market cap of $20.71 billion, a price-to-earnings ratio of 10.16, a P/E/G ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 52 week low of $91.37 and a 52 week high of $125.81. The business has a 50 day moving average price of $108.27 and a 200-day moving average price of $111.59.

T. Rowe Price Group (NASDAQ:TROW) last announced 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 period in the prior year, the company posted $1.72 EPS. On average, equities research 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 business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $1.27 per share. The ex-dividend date is Friday, March 14th. This represents a $5.08 annualized dividend and a yield of 5.46%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio is 55.46%.

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.