Atria Investments Inc Decreases Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Atria Investments Inc cut its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 8.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,578 shares of the asset manager’s stock after selling 525 shares during the quarter. Atria Investments Inc’s holdings in T. Rowe Price Group were worth $631,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in T. Rowe Price Group by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock worth $812,798,000 after acquiring an additional 346,369 shares during the period. Geode Capital Management LLC grew its holdings in shares of T. Rowe Price Group by 0.5% in the third quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager’s stock valued at $598,801,000 after purchasing an additional 25,481 shares during the period. Provident Trust Co. boosted its stake in T. Rowe Price Group by 8.9% during the fourth 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. Fisher Asset Management LLC boosted its stake in T. Rowe Price Group by 0.5% during the fourth quarter. Fisher Asset Management LLC now owns 1,870,446 shares of the asset manager’s stock worth $211,529,000 after buying an additional 8,992 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in T. Rowe Price Group by 4.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,375,306 shares of the asset manager’s stock worth $149,812,000 after buying an additional 53,997 shares during the period. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Trading Up 1.1 %

Shares of TROW stock opened at $93.04 on Friday. T. Rowe Price Group, Inc. has a twelve month low of $91.37 and a twelve month high of $125.81. The firm has a 50-day moving average price of $108.27 and a 200 day moving average price of $111.59. The company has a market capitalization of $20.71 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same quarter last year, the company posted $1.72 EPS. As a group, research analysts predict 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 declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio is currently 55.46%.

Analyst Ratings Changes

Several research analysts have recently commented 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. Barclays cut their price objective on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Morgan Stanley cut their target price 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. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $114.09.

Insiders Place Their Bets

In other 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 transaction, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. This represents a 10.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is owned by company 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.