Natixis Advisors LLC Raises Stake in T. Rowe Price Group, Inc. $TROW

Natixis Advisors LLC increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 42.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 35,726 shares of the asset manager’s stock after buying an additional 10,633 shares during the period. Natixis Advisors LLC’s holdings in T. Rowe Price Group were worth $3,658,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. TD Private Client Wealth LLC lifted its holdings in T. Rowe Price Group by 91.8% during the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after purchasing an additional 123 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in T. Rowe Price Group by 540.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after purchasing an additional 238 shares in the last quarter. Canton Hathaway LLC purchased a new stake in shares of T. Rowe Price Group in the 4th quarter valued at about $31,000. Sound Income Strategies LLC raised its holdings in shares of T. Rowe Price Group by 170.3% in the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 189 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its holdings in shares of T. Rowe Price Group by 92.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 386 shares of the asset manager’s stock valued at $40,000 after acquiring an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 0.4%

Shares of NASDAQ TROW opened at $105.91 on Wednesday. The stock has a market cap of $22.69 billion, a price-to-earnings ratio of 11.35, a P/E/G ratio of 5.40 and a beta of 1.50. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $118.22. The stock’s 50-day moving average is $99.71 and its 200 day moving average is $99.43.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.15. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.T. Rowe Price Group’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the firm posted $2.23 EPS. On average, analysts forecast that T. Rowe Price Group, Inc. will post 9.63 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.73%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a report on Friday, May 8th. Evercore raised their price target on T. Rowe Price Group from $106.00 to $111.00 in a report on Monday. Zacks Research raised T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 13th. The Goldman Sachs Group raised their price target on T. Rowe Price Group from $85.00 to $90.00 in a report on Friday, May 1st. Finally, TD Cowen raised their price target on T. Rowe Price Group from $93.00 to $94.00 and gave the company a “hold” rating in a report on Friday, May 1st. Eleven investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $100.08.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Stephon A. Jackson sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the transaction, the vice president directly owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.