Lee Danner & Bass Inc. Buys Shares of 920 T. Rowe Price Group, Inc. (NASDAQ:TROW)

Lee Danner & Bass Inc. bought a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 920 shares of the asset manager’s stock, valued at approximately $104,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Addison Advisors LLC grew its stake in T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 93 shares in the last quarter. Curio Wealth LLC bought a new stake in shares of T. Rowe Price Group in the 4th quarter valued at approximately $27,000. Y.D. More Investments Ltd grew its stake in shares of T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after buying an additional 155 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of T. Rowe Price Group in the 4th quarter valued at approximately $32,000. Finally, Advantage Trust Co grew its stake in shares of T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Down 0.2 %

TROW opened at $92.83 on Friday. T. Rowe Price Group, Inc. has a 1-year low of $91.37 and a 1-year high of $125.81. The stock has a market capitalization of $20.67 billion, a price-to-earnings ratio of 10.13, a P/E/G ratio of 2.86 and a beta of 1.46. The business has a 50 day moving average of $106.39 and a 200-day moving average of $111.14.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same period in the prior year, the firm earned $1.72 earnings per share. Equities analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 5.47%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. T. Rowe Price Group’s dividend payout ratio is currently 55.46%.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the transaction, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is owned by company insiders.

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.