Raymond James Financial Inc. Buys Shares of 285,898 T. Rowe Price Group, Inc. (NASDAQ:TROW)

Raymond James Financial Inc. bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 285,898 shares of the asset manager’s stock, valued at approximately $32,332,000.

A number of other institutional investors also recently made changes to their positions in TROW. Atria Investments Inc grew its stake in T. Rowe Price Group by 7.0% during the 3rd quarter. Atria Investments Inc now owns 6,103 shares of the asset manager’s stock worth $665,000 after buying an additional 400 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in T. Rowe Price Group by 1.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 664,063 shares of the asset manager’s stock worth $72,336,000 after buying an additional 9,924 shares during the last quarter. Aigen Investment Management LP bought a new position in T. Rowe Price Group during the 3rd quarter worth $516,000. Simmons Bank grew its stake in shares of T. Rowe Price Group by 3.1% in the third quarter. Simmons Bank now owns 8,672 shares of the asset manager’s stock worth $945,000 after purchasing an additional 260 shares in the last quarter. Finally, MQS Management LLC bought a new position in shares of T. Rowe Price Group in the third quarter worth $283,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Arif Husain sold 4,112 shares of the stock in a transaction that occurred 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 $4,021,136. This represents a 10.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Morgan Stanley decreased their price target on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Wells Fargo & Company decreased their price target on 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. Barclays decreased their price target on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Finally, Keefe, Bruyette & Woods restated 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 report on Thursday, February 6th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $114.09.

T. Rowe Price Group Trading Down 1.3 %

NASDAQ:TROW opened at $92.04 on Friday. The firm has a market capitalization of $20.49 billion, a price-to-earnings ratio of 10.05, a PEG ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 1-year low of $91.59 and a 1-year high of $125.81. The business’s fifty day moving average price is $108.70 and its 200 day moving average price is $111.70.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share 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 last year, the business earned $1.72 earnings per share. Equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $1.27 per share. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.52%. T. Rowe Price Group’s dividend payout ratio is currently 55.46%.

T. Rowe Price Group 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.