Quantinno Capital Management LP Has $3.44 Million Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Quantinno Capital Management LP increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 64.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 30,377 shares of the asset manager’s stock after acquiring an additional 11,890 shares during the quarter. Quantinno Capital Management LP’s holdings in T. Rowe Price Group were worth $3,435,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in T. Rowe Price Group by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager’s stock worth $2,947,559,000 after buying an additional 135,203 shares during the period. Charles Schwab Investment Management Inc. raised its stake in T. Rowe Price Group by 5.1% during 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 buying an additional 346,369 shares during the period. Fayez Sarofim & Co raised its stake in T. Rowe Price Group by 7.6% during the 4th quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager’s stock worth $684,474,000 after buying an additional 425,142 shares during the period. Geode Capital Management LLC raised its stake in T. Rowe Price Group by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager’s stock worth $635,260,000 after buying an additional 116,231 shares during the period. Finally, Provident Trust Co. raised its stake in T. Rowe Price Group by 8.9% during the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock worth $295,311,000 after buying an additional 213,566 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $97.96 on Tuesday. The stock has a market capitalization of $21.58 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 2.86 and a beta of 1.50. The business has a 50-day moving average of $90.55 and a 200-day moving average of $105.63. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.10. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.80 billion. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. T. Rowe Price Group’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $2.38 EPS. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group’s payout ratio is currently 57.60%.

Analyst Ratings Changes

Several analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on T. Rowe Price Group from $110.00 to $90.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. Barclays raised their price objective on T. Rowe Price Group from $85.00 to $90.00 and gave the stock an “underweight” rating in a research note on Monday, May 5th. Wells Fargo & Company dropped their price target on T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Citigroup dropped their price target on T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Finally, TD Cowen dropped their price target on T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, April 9th. Four investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $94.09.

Insider Buying and Selling

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the sale, the director now directly owns 42,979 shares in the company, valued at $3,935,157.24. This trade represents a 8.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the sale, the insider now owns 13,611 shares of the company’s stock, valued at $1,319,994.78. This trade represents a 6.64% 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 corporate insiders.

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.