Sequoia Financial Advisors LLC Grows Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Sequoia Financial Advisors LLC increased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 31.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in T. Rowe Price Group in the 3rd quarter worth approximately $25,000. Creative Financial Designs Inc. ADV raised its holdings in T. Rowe Price Group by 83.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after acquiring an additional 106 shares during the last quarter. PCA Investment Advisory Services Inc. purchased a new position in T. Rowe Price Group in the 2nd quarter worth approximately $26,000. Park Place Capital Corp raised its holdings in T. Rowe Price Group by 1,775.0% in the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after acquiring an additional 284 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new position in T. Rowe Price Group in the 4th quarter worth approximately $33,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $106.00 to $120.00 in a report on Thursday, April 11th. UBS Group lifted their target price on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research report on Friday, April 12th. Citigroup lifted their target price on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Morgan Stanley lifted their target price on shares of T. Rowe Price Group from $101.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Friday, January 19th. Finally, StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research 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. According to MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus price target of $110.56.

Insider Activity at T. Rowe Price Group

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

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $111.39 on Thursday. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $132.76. The firm has a fifty day moving average price of $114.67 and a 200-day moving average price of $106.69. The company has a market cap of $24.91 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 2.16 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.12. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the firm posted $1.74 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities research analysts expect that T. Rowe Price Group, Inc. will post 8.13 EPS for the current year.

T. Rowe Price Group Increases Dividend

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

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.