Lee Danner & Bass Inc. Makes New $104,000 Investment in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Lee Danner & Bass Inc. acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 920 shares of the asset manager’s stock, valued at approximately $104,000.

Other hedge funds have also recently bought and sold shares of the company. Addison Advisors LLC raised its stake in T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after acquiring an additional 93 shares in the last quarter. Curio Wealth LLC acquired a new position in T. Rowe Price Group during the fourth quarter worth $27,000. Y.D. More Investments Ltd raised its stake in T. Rowe Price Group by 124.0% during the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after acquiring an additional 155 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of T. Rowe Price Group in the fourth quarter valued at $32,000. Finally, Advantage Trust Co increased its stake in shares of T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after buying an additional 100 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the transaction, the vice president now owns 36,800 shares in the company, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Down 0.2 %

T. Rowe Price Group stock opened at $92.83 on Friday. The business’s 50-day simple moving average is $106.39 and its 200 day simple moving average is $111.14. The stock has a market cap of $20.67 billion, a price-to-earnings ratio of 10.13, a P/E/G ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 12-month low of $91.37 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 in the prior year, the firm posted $1.72 EPS. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $1.27 per share. The ex-dividend date is Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a yield of 5.47%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.46%.

Analyst Upgrades and Downgrades

TROW has been the subject of a number of research reports. Wells Fargo & Company lowered their target price 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. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Morgan Stanley lowered their target price 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. Finally, Barclays lowered their target price 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. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $114.09.

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.