O Shaughnessy Asset Management LLC Purchases 2,037 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

O Shaughnessy Asset Management LLC grew its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 13.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,103 shares of the asset manager’s stock after purchasing an additional 2,037 shares during the period. O Shaughnessy Asset Management LLC’s holdings in T. Rowe Price Group were worth $1,934,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TROW. Brandywine Global Investment Management LLC grew its stake in shares of T. Rowe Price Group by 43.6% during the 4th quarter. Brandywine Global Investment Management LLC now owns 179,957 shares of the asset manager’s stock worth $20,351,000 after acquiring an additional 54,640 shares in the last quarter. Summit Securities Group LLC bought a new position in T. Rowe Price Group in the fourth quarter valued at $57,000. Schroder Investment Management Group increased its stake in T. Rowe Price Group by 49.4% in the 4th quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager’s stock valued at $25,229,000 after buying an additional 73,307 shares during the last quarter. Strategy Asset Managers LLC lifted its position in T. Rowe Price Group by 5.0% during the 4th quarter. Strategy Asset Managers LLC now owns 2,277 shares of the asset manager’s stock worth $258,000 after buying an additional 108 shares in the last quarter. Finally, Allstate Corp acquired a new position in shares of T. Rowe Price Group during the 4th quarter worth about $748,000. 73.39% of the stock is currently owned by institutional investors.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,955 shares of the company’s stock in a transaction on Monday, March 31st. The stock was 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 approximately $3,935,157.24. This represents a 8.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the transaction, the vice president now owns 36,800 shares in the company, valued at $4,021,136. The trade was a 10.05 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Stock Down 4.2 %

Shares of TROW stock opened at $82.60 on Friday. T. Rowe Price Group, Inc. has a 12-month low of $82.34 and a 12-month high of $125.81. The company has a market capitalization of $18.36 billion, a PE ratio of 9.02, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50. The firm has a 50 day moving average price of $102.18 and a two-hundred day moving average price of $110.29.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly 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 firm earned $1.72 EPS. As a group, research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 6.15%. The ex-dividend date was Friday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s payout ratio is presently 55.46%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TROW shares. Wells Fargo & Company dropped their target price on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Bank of America cut their price objective on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating for the company in a report on Thursday. Citigroup lowered their target price on shares of T. Rowe Price Group from $120.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 31st. Barclays cut 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 note on Thursday, February 6th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Five equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $108.50.

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.