Natixis Advisors LLC Has $3.04 Million Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Key Points

• Natixis Advisors LLC has reduced its stake in T. Rowe Price Group by 30.7%, owning 33,058 shares valued at approximately $3.04 million after selling 14,662 shares in the first quarter.
• Institutional investors hold 73.39% of T. Rowe Price Group's stock, with notable recent investments from Marshall Wace LLP and Fayez Sarofim & Co, increasing their stakes significantly.
• The company recently reported earnings of $2.24 per share, exceeding expectations, but experienced a 0.6% decline in revenue compared to the same quarter last year.

Natixis Advisors LLC reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 30.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 33,058 shares of the asset manager's stock after selling 14,662 shares during the period. Natixis Advisors LLC's holdings in T. Rowe Price Group were worth $3,037,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP grew its stake in T. Rowe Price Group by 30.9% in the 4th quarter. Wellington Management Group LLP now owns 72,092 shares of the asset manager's stock valued at $8,153,000 after buying an additional 16,999 shares during the last quarter. World Investment Advisors grew its position in shares of T. Rowe Price Group by 5.8% in the fourth quarter. World Investment Advisors now owns 2,654 shares of the asset manager's stock valued at $300,000 after purchasing an additional 146 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its stake in shares of T. Rowe Price Group by 31.9% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 3,580 shares of the asset manager's stock worth $405,000 after purchasing an additional 866 shares during the period. Envestnet Asset Management Inc. lifted its holdings in T. Rowe Price Group by 8.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 147,010 shares of the asset manager's stock worth $16,625,000 after purchasing an additional 11,409 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in T. Rowe Price Group by 139.0% in the 4th quarter. Federated Hermes Inc. now owns 1,979 shares of the asset manager's stock valued at $224,000 after purchasing an additional 1,151 shares during the period. Institutional investors own 73.39% of the company's stock.

Analyst Upgrades and Downgrades

TROW has been the subject of a number of research reports. TD Cowen dropped their target price on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Cowen reiterated a "hold" rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. Citigroup cut their price objective on shares of T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Evercore ISI raised their target price on shares of T. Rowe Price Group from $106.00 to $110.00 and gave the stock an "in-line" rating in a report on Monday. Finally, Morgan Stanley boosted their price target on T. Rowe Price Group from $112.00 to $116.00 and gave the company an "equal weight" rating in a research note on Monday. Four research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $101.09.

Insider Buying and Selling

In related news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total transaction of $190,860.00. Following the sale, the vice president directly owned 44,789 shares of the company's stock, valued at approximately $4,274,214.27. The trade was a 4.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the transaction, the insider directly owned 13,611 shares of the company's stock, valued at approximately $1,319,994.78. The trade was a 6.64% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.

T. Rowe Price Group Trading Down 1.3%

NASDAQ TROW traded down $1.36 on Thursday, hitting $104.06. 1,192,032 shares of the company's stock were exchanged, compared to its average volume of 1,892,619. The stock has a 50-day moving average of $99.26 and a 200-day moving average of $98.20. The stock has a market cap of $22.86 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 2.86 and a beta of 1.47. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%. The company had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter in the previous year, the firm earned $2.26 EPS. T. Rowe Price Group's revenue was down .6% on a year-over-year basis. As a group, analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date was Friday, June 13th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 56.76%.

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.