Pacer Advisors Inc. Has $1.05 Million Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Pacer Advisors Inc. cut its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 35.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,377 shares of the asset manager's stock after selling 6,384 shares during the period. Pacer Advisors Inc.'s holdings in T. Rowe Price Group were worth $1,045,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Marshall Wace LLP bought a new position in shares of T. Rowe Price Group in the fourth quarter valued at $63,284,000. Fayez Sarofim & Co increased its holdings in shares of T. Rowe Price Group by 7.6% in the fourth quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager's stock valued at $684,474,000 after buying an additional 425,142 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of T. Rowe Price Group by 28.2% in 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 valued at $199,367,000 after buying an additional 387,604 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of T. Rowe Price Group by 9,555.5% in the first quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock valued at $30,612,000 after buying an additional 329,761 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of T. Rowe Price Group in the fourth quarter valued at $32,332,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the 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 completion of the transaction, the vice president owned 44,789 shares of the company's stock, valued at $4,274,214.27. This represents a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction dated Monday, May 12th. The stock was 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 $1,319,994.78. This trade represents a 6.64% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. JPMorgan Chase & Co. upped their price target on T. Rowe Price Group from $90.00 to $98.00 and gave the company an "underweight" rating in a report on Wednesday, July 16th. Wells Fargo & Company upped their price target on T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. Citigroup cut 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 research note on Monday, April 14th. Morgan Stanley boosted their target price on shares of T. Rowe Price Group from $95.00 to $104.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 2nd. Finally, The Goldman Sachs Group cut their target price on shares of 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 analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $96.64.

T. Rowe Price Group Stock Up 1.6%

TROW stock traded up $1.61 during mid-day trading on Friday, reaching $103.06. 3,037,752 shares of the stock traded hands, compared to its average volume of 1,715,608. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The business has a 50-day moving average of $98.38 and a two-hundred day moving average of $98.31. The firm has a market capitalization of $22.71 billion, a PE ratio of 11.52, a P/E/G ratio of 3.03 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.38% and a return on equity of 20.17%. The business had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter last year, the company earned $2.26 earnings per share. The firm's revenue was down .6% on a year-over-year basis. On average, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Friday, June 13th. T. Rowe Price Group's dividend payout ratio is 57.60%.

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.