Quinn Opportunity Partners LLC Buys New Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Quinn Opportunity Partners LLC acquired a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 59,901 shares of the asset manager's stock, valued at approximately $6,774,000.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of T. Rowe Price Group by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager's stock valued at $2,947,559,000 after purchasing an additional 135,203 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of T. Rowe Price Group by 5.1% in 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 in the last quarter. Geode Capital Management LLC raised its holdings in shares of T. Rowe Price Group by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager's stock valued at $635,260,000 after acquiring an additional 116,231 shares during the period. Provident Trust Co. lifted its position in shares of T. Rowe Price Group by 8.9% in the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager's stock valued at $295,311,000 after acquiring an additional 213,566 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of T. Rowe Price Group by 1.7% during the 4th quarter. Invesco Ltd. now owns 2,397,819 shares of the asset manager's stock valued at $271,169,000 after acquiring an additional 40,514 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wells Fargo & Company dropped their target price on T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Evercore ISI dropped their price target on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating on the stock in a research note on Friday, April 11th. Barclays lowered their target price on shares of T. Rowe Price Group from $105.00 to $85.00 and set an "underweight" rating on the stock in a research report on Wednesday. StockNews.com lowered T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. Finally, Citigroup lowered their price target on shares of T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Monday. Four 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, T. Rowe Price Group has a consensus rating of "Hold" and an average target price of $96.00.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the business's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the transaction, the director now directly owns 42,979 shares of the company's stock, valued at approximately $3,935,157.24. The trade was a 8.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the transaction, the vice president now owns 36,800 shares in the company, valued at $4,021,136. This trade represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

T. Rowe Price Group Trading Down 2.2 %

Shares of TROW traded down $1.95 during trading hours on Wednesday, hitting $85.63. 836,622 shares of the stock traded hands, compared to its average volume of 1,439,992. The business has a fifty day moving average of $97.08 and a 200-day moving average of $108.87. The firm has a market capitalization of $19.03 billion, a PE ratio of 9.35, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS 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 quarter last year, the firm posted $1.72 EPS. As a group, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $1.27 dividend. The ex-dividend date was Friday, March 14th. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.93%. T. Rowe Price Group's dividend payout ratio is 55.46%.

About T. Rowe Price Group

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.