Fayez Sarofim & Co Has $515.92 Million Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Key Points

• Fayez Sarofim & Co reduced its stake in T. Rowe Price Group by 7.2%, now holding 5,615,761 shares, making it the firm's 27th largest holding.
• T. Rowe Price Group announced a quarterly dividend of $1.27, resulting in an annualized total of $5.08 and a dividend yield of 4.8%.
• Analysts have mixed ratings for T. Rowe Price Group, with a consensus target price of $101.09, indicating a generally cautious outlook among brokers.

Fayez Sarofim & Co lowered its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 7.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,615,761 shares of the asset manager's stock after selling 436,708 shares during the period. T. Rowe Price Group accounts for approximately 1.3% of Fayez Sarofim & Co's portfolio, making the stock its 27th biggest holding. Fayez Sarofim & Co owned 2.55% of T. Rowe Price Group worth $515,920,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Marshall Wace LLP acquired a new position in T. Rowe Price Group during the fourth quarter worth approximately $63,284,000. Charles Schwab Investment Management Inc. increased its stake in T. Rowe Price Group by 7.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager's stock worth $707,973,000 after acquiring an additional 519,075 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in T. Rowe Price Group by 28.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,762,910 shares of the asset manager's stock worth $199,367,000 after acquiring an additional 387,604 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of T. Rowe Price Group by 9,555.5% in the 1st quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock worth $30,612,000 after purchasing an additional 329,761 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at about $32,332,000. Hedge funds and other institutional investors own 73.39% of the company's stock.

Insider Buying and Selling

In other news, insider Jessica M. Hiebler sold 968 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the sale, the insider owned 13,611 shares in the company, valued at $1,319,994.78. This represents a 6.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the transaction, the vice president directly owned 44,789 shares of the company's stock, valued at $4,274,214.27. This represents a 4.27% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Price Performance

Shares of TROW traded up $1.00 during trading hours on Friday, reaching $105.06. 1,209,678 shares of the company's stock traded hands, compared to its average volume of 1,864,028. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The business's fifty day simple moving average is $99.50 and its two-hundred day simple moving average is $98.14. The firm has a market capitalization of $23.08 billion, a price-to-earnings ratio of 11.74, a P/E/G ratio of 2.83 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the firm posted $2.26 EPS. T. Rowe Price Group's revenue was down .6% compared to the same quarter last year. On average, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Cowen reissued a "hold" rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Keefe, Bruyette & Woods increased their price objective on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock a "market perform" rating in a research report on Monday, August 4th. Citigroup reduced their target price 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, April 14th. Barclays reissued an "underweight" rating and issued a $95.00 price objective (up from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. Finally, The Goldman Sachs Group reduced their price objective on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating on the stock in a research note on Monday, April 14th. Four equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of "Hold" and a consensus target price of $101.09.

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.