TCTC Holdings LLC Has $6.46 Million Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

TCTC Holdings LLC lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,156 shares of the asset manager’s stock after selling 822 shares during the period. TCTC Holdings LLC’s holdings in T. Rowe Price Group were worth $6,464,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in TROW. Amundi grew its position in T. Rowe Price Group by 30.1% in the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock worth $194,064,000 after purchasing an additional 397,278 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in 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 purchasing an additional 346,369 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew 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 in the last quarter. Raymond James Financial Inc. bought a new stake in T. Rowe Price Group in the 4th quarter worth about $32,332,000. Finally, Provident Trust Co. grew 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 in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 1.1 %

TROW opened at $93.04 on Monday. The company has a 50 day moving average of $108.27 and a 200 day moving average of $111.64. The company has a market cap of $20.71 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 12 month low of $91.37 and a 12 month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its 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 in the previous year, the firm earned $1.72 earnings per share. Research 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 company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $1.27 dividend. The ex-dividend date of this dividend is Friday, March 14th. 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 5.46%. T. Rowe Price Group’s dividend payout ratio is currently 55.46%.

Wall Street Analyst Weigh In

TROW has been the subject of a number of recent analyst reports. Morgan Stanley reduced 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. Wells Fargo & Company reduced their target price on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Barclays reduced their target price on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Finally, 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. Four equities research analysts have rated the stock with a sell rating and eight have given 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 a consensus price target of $114.09.

Insiders Place Their Bets

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

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.