Horizon Investments LLC Raises Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Horizon Investments LLC boosted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 104.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,160 shares of the asset manager’s stock after buying an additional 3,141 shares during the quarter. Horizon Investments LLC’s holdings in T. Rowe Price Group were worth $697,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Addison Advisors LLC raised its holdings in shares of T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after buying an additional 93 shares during the period. Curio Wealth LLC acquired a new position in T. Rowe Price Group in the 4th quarter valued at about $27,000. Y.D. More Investments Ltd increased its stake in T. Rowe Price Group by 124.0% during the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after purchasing an additional 155 shares during the period. Stonebridge Financial Group LLC acquired a new stake in shares of T. Rowe Price Group during the fourth quarter worth about $32,000. Finally, Advantage Trust Co boosted its stake in shares of T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 100 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $94.05 on Thursday. The firm’s fifty day moving average price is $107.10 and its 200 day moving average price is $111.36. T. Rowe Price Group, Inc. has a 12 month low of $91.37 and a 12 month high of $125.81. The company has a market capitalization of $20.94 billion, a price-to-earnings ratio of 10.27, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period last year, the firm posted $1.72 EPS. As a group, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $1.27 dividend. The ex-dividend date is Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a yield of 5.40%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s payout ratio is currently 55.46%.

Wall Street Analyst Weigh In

Several equities analysts have commented on TROW shares. Morgan Stanley dropped their price target on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Wells Fargo & Company lowered their target price on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Barclays reduced their price target on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Finally, StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $114.09.

Insider Activity

In related news, VP Arif Husain sold 4,112 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the sale, the vice president now owns 36,800 shares in the company, valued at $4,021,136. This represents a 10.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.00% of the company’s stock.

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.