Two Sigma Advisers LP Has $2.13 Million Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Two Sigma Advisers LP increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 82.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,800 shares of the asset manager's stock after purchasing an additional 8,500 shares during the period. Two Sigma Advisers LP's holdings in T. Rowe Price Group were worth $2,126,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of T. Rowe Price Group by 0.5% during the fourth 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. grew its position in 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 valued at $812,798,000 after acquiring an additional 346,369 shares during the period. Fayez Sarofim & Co grew its position in 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 acquiring an additional 425,142 shares during the period. Geode Capital Management LLC grew its position in T. Rowe Price Group by 2.1% in 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. Finally, Provident Trust Co. grew its position in T. Rowe Price Group by 8.9% in the fourth 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 during the period. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Performance

NASDAQ:TROW traded down $0.98 during mid-day trading on Friday, hitting $93.33. The company had a trading volume of 2,885,583 shares, compared to its average volume of 1,496,164. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The business's fifty day moving average is $90.66 and its two-hundred day moving average is $104.26. The firm has a market cap of $20.56 billion, a P/E ratio of 10.19, a P/E/G ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the firm posted $2.38 earnings per share. The company's quarterly revenue was up .8% on a year-over-year basis. Equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group's dividend payout ratio is currently 57.60%.

Analysts Set New Price Targets

A number of brokerages have weighed in on TROW. Morgan Stanley upped their price target on T. Rowe Price Group from $94.00 to $95.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Evercore ISI lowered their price target on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating on the stock in a research report on Friday, April 11th. TD Cowen lowered their price target on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. Wells Fargo & Company reduced their price objective on T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Finally, Wall Street Zen lowered T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. Four analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $94.09.

Insider Transactions at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the transaction, the director now directly owns 42,979 shares in the company, valued at approximately $3,935,157.24. This trade represents a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 value of $93,876.64. Following the transaction, the insider now owns 13,611 shares of the company's stock, valued at approximately $1,319,994.78. The trade was a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group 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.