Xponance Inc. Purchases 277 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Xponance Inc. grew its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.9% in the 4th quarter, Holdings Channel reports. The firm owned 31,837 shares of the asset manager’s stock after acquiring an additional 277 shares during the quarter. Xponance Inc.’s holdings in T. Rowe Price Group were worth $3,600,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Generali Asset Management SPA SGR bought a new position in T. Rowe Price Group during the 4th quarter worth approximately $3,273,000. Horizon Investments LLC increased its stake in shares of T. Rowe Price Group by 104.0% in the 4th quarter. Horizon Investments LLC now owns 6,160 shares of the asset manager’s stock valued at $697,000 after acquiring an additional 3,141 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of T. Rowe Price Group by 7.6% in the 4th quarter. Advisors Asset Management Inc. now owns 71,928 shares of the asset manager’s stock valued at $8,134,000 after acquiring an additional 5,110 shares in the last quarter. Kennondale Capital Management LLC bought a new stake in shares of T. Rowe Price Group in the 4th quarter valued at $2,094,000. Finally, Leelyn Smith LLC increased its stake in shares of T. Rowe Price Group by 1.0% in the 4th quarter. Leelyn Smith LLC now owns 21,304 shares of the asset manager’s stock valued at $2,409,000 after acquiring an additional 211 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on TROW shares. Wells Fargo & Company lowered their price objective 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 note on Thursday, February 6th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Barclays reduced their price target 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, Morgan Stanley lowered their price objective on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $114.09.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $93.04 on Friday. T. Rowe Price Group, Inc. has a 1 year low of $91.37 and a 1 year high of $125.81. The firm has a market cap of $20.71 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 2.86 and a beta of 1.46. The company has a fifty day moving average price of $106.71 and a 200-day moving average price of $111.23.

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 prior year, the business posted $1.72 earnings per share. On average, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS 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. Stockholders of record on Friday, March 14th will be paid a $1.27 dividend. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date is Friday, March 14th. This represents a $5.08 annualized dividend and a dividend yield of 5.46%. T. Rowe Price Group’s dividend payout ratio is presently 55.46%.

Insider Activity at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the 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 in the company, valued at approximately $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is 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.