Sawgrass Asset Management LLC Has $683,000 Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Sawgrass Asset Management LLC boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 26.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,345 shares of the asset manager’s stock after purchasing an additional 1,338 shares during the quarter. Sawgrass Asset Management LLC’s holdings in T. Rowe Price Group were worth $683,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of TROW. Charles Schwab Investment Management Inc. boosted its stake in shares of T. Rowe Price Group by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock valued at $513,874,000 after buying an additional 134,839 shares during the period. Morgan Stanley increased its position in shares of T. Rowe Price Group by 0.7% in the third quarter. Morgan Stanley now owns 3,483,350 shares of the asset manager’s stock worth $365,299,000 after purchasing an additional 25,012 shares during the period. Northern Trust Corp increased its position in shares of T. Rowe Price Group by 4.1% in the third quarter. Northern Trust Corp now owns 2,356,132 shares of the asset manager’s stock worth $247,088,000 after purchasing an additional 93,829 shares during the period. Fisher Asset Management LLC raised its stake in T. Rowe Price Group by 6.7% in the fourth quarter. Fisher Asset Management LLC now owns 1,752,005 shares of the asset manager’s stock valued at $188,674,000 after purchasing an additional 109,653 shares in the last quarter. Finally, Invesco Ltd. lifted its position in T. Rowe Price Group by 7.6% during the third quarter. Invesco Ltd. now owns 1,684,057 shares of the asset manager’s stock worth $176,607,000 after purchasing an additional 119,305 shares during the period. Institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on TROW shares. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. UBS Group boosted their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday, April 12th. Wells Fargo & Company raised their target price on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, February 9th. Evercore ISI lowered their price target on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a report on Tuesday, April 30th. Finally, Morgan Stanley upped their price objective on T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Four analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus price target of $112.10.

T. Rowe Price Group Trading Down 0.7 %

TROW traded down $0.76 during trading on Tuesday, reaching $111.25. 983,265 shares of the company’s stock were exchanged, compared to its average volume of 1,449,078. The firm has a fifty day moving average price of $115.24 and a two-hundred day moving average price of $107.68. The stock has a market capitalization of $24.84 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 1.93 and a beta of 1.40. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, beating the consensus estimate of $2.04 by $0.34. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The firm’s revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.69 earnings per share. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 8.75 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.46%. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

Insider Activity at T. Rowe Price Group

In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the sale, the director now owns 21,073 shares in the company, valued at approximately $2,493,357.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the sale, the director now owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now owns 14,113 shares in the company, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. Insiders have sold a total of 12,921 shares of company stock worth $1,500,133 over the last quarter. Company insiders own 2.00% of the company’s stock.

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.