Great Lakes Advisors LLC Sells 14,866 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Great Lakes Advisors LLC decreased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 27.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,083 shares of the asset manager’s stock after selling 14,866 shares during the period. Great Lakes Advisors LLC’s holdings in T. Rowe Price Group were worth $4,420,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. MCF Advisors LLC lifted its holdings in shares of T. Rowe Price Group by 1.5% in the 4th quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock valued at $704,000 after acquiring an additional 93 shares during the last quarter. Addison Advisors LLC lifted its holdings in shares of T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 93 shares during the last quarter. Strategy Asset Managers LLC lifted its holdings in shares of T. Rowe Price Group by 4.6% in the 3rd quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock valued at $236,000 after acquiring an additional 95 shares during the last quarter. Brooklyn Investment Group lifted its holdings in shares of T. Rowe Price Group by 24.6% in the 4th quarter. Brooklyn Investment Group now owns 497 shares of the asset manager’s stock valued at $56,000 after acquiring an additional 98 shares during the last quarter. Finally, Advantage Trust Co lifted its stake in T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Barclays decreased their price objective 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. Morgan Stanley decreased their price objective on shares of 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. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Keefe, Bruyette & Woods reissued 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 research note on Thursday, February 6th. Finally, Wells Fargo & Company decreased 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. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat, T. Rowe Price Group has an average rating of “Hold” and an average target price of $114.09.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the sale, the vice president now directly owns 36,800 shares in the company, valued at $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $93.04 on Friday. The firm has a market cap of $20.71 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. The firm’s 50 day simple moving average is $108.27 and its 200-day simple moving average is $111.59. T. Rowe Price Group, Inc. has a one year low of $91.37 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate 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 in the previous year, the business earned $1.72 EPS. Equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 5.46%. 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. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.46%.

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.