Gotham Asset Management LLC Has $4.15 Million Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Gotham Asset Management LLC cut its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,675 shares of the asset manager’s stock after selling 543 shares during the quarter. Gotham Asset Management LLC’s holdings in T. Rowe Price Group were worth $4,148,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Barclays PLC boosted its holdings in T. Rowe Price Group by 13.6% in the 3rd quarter. Barclays PLC now owns 822,869 shares of the asset manager’s stock valued at $89,635,000 after purchasing an additional 98,448 shares during the period. Principal Financial Group Inc. raised its position in shares of T. Rowe Price Group by 2.8% during the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock valued at $30,062,000 after buying an additional 7,503 shares during the last quarter. Czech National Bank lifted its stake in shares of T. Rowe Price Group by 6.2% in the fourth quarter. Czech National Bank now owns 48,169 shares of the asset manager’s stock valued at $5,447,000 after buying an additional 2,824 shares during the period. Cooper Financial Group bought a new stake in shares of T. Rowe Price Group in the fourth quarter valued at about $240,000. Finally, Miracle Mile Advisors LLC grew its position in T. Rowe Price Group by 54.6% during the fourth quarter. Miracle Mile Advisors LLC now owns 3,693 shares of the asset manager’s stock worth $418,000 after buying an additional 1,304 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group 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 completion of the transaction, the insider now directly owns 13,611 shares of the company’s stock, valued at $1,319,994.78. The trade was a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 sale, the director now directly owns 42,979 shares in the company, valued at approximately $3,935,157.24. This represents a 8.43% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on TROW. Cowen reaffirmed a “hold” rating on shares of T. Rowe Price Group in a report on Monday, May 5th. Barclays boosted their price objective on T. Rowe Price Group from $85.00 to $90.00 and gave the company an “underweight” rating in a research report on Monday, May 5th. Wells Fargo & Company reduced their target price on T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group lowered their price target on shares of T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a report on Monday, April 14th. Finally, Evercore ISI dropped their price objective on shares of T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating for the company in a research note on Friday, April 11th. Four equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $94.09.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $97.32 on Thursday. The firm has a market capitalization of $21.44 billion, a P/E ratio of 10.62, a P/E/G ratio of 2.86 and a beta of 1.50. The stock has a fifty day moving average price of $90.44 and a two-hundred day moving average price of $106.00. 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) last posted its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The business 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 earned $2.38 EPS. The firm’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a dividend of $1.27 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.08 annualized dividend and a yield of 5.22%. 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.