Ameriprise Financial Inc. Has $79.31 Million Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Ameriprise Financial Inc. decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 17.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 701,314 shares of the asset manager's stock after selling 152,555 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.32% of T. Rowe Price Group worth $79,312,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Addison Advisors LLC grew its position in T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock worth $26,000 after purchasing an additional 93 shares during the last quarter. Curio Wealth LLC bought a new position in T. Rowe Price Group in the 4th quarter worth approximately $27,000. Y.D. More Investments Ltd increased its position in 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 acquiring an additional 155 shares during the period. Stonebridge Financial Group LLC bought a new stake in T. Rowe Price Group during the 4th quarter valued at $32,000. Finally, Advantage Trust Co boosted its position in T. Rowe Price Group by 48.8% during the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock worth $34,000 after acquiring an additional 100 shares during the period. Institutional investors own 73.39% of the company's stock.

Analyst Ratings Changes

TROW has been the topic of a number of research analyst reports. The Goldman Sachs Group lowered their price objective on shares of T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating on the stock in a research note on Monday, April 14th. Barclays lifted their price objective on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the stock an "underweight" rating in a research note on Monday, May 5th. Morgan Stanley increased their target price on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Bank of America decreased their price target on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a research report on Thursday, April 3rd. Finally, Wells Fargo & Company dropped their price target on T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Four research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $94.09.

T. Rowe Price Group Trading Up 0.1%

NASDAQ TROW traded up $0.13 during trading on Wednesday, reaching $97.32. 1,465,467 shares of the company's stock were exchanged, compared to its average volume of 1,484,582. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The company's fifty day simple moving average is $90.51 and its 200-day simple moving average is $106.06. The firm has a market capitalization of $21.44 billion, a PE ratio of 10.62, a P/E/G ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the firm earned $2.38 earnings per share. The firm's revenue was up .8% compared to the same quarter last year. Equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently announced 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. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group's dividend payout ratio (DPR) is currently 57.60%.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,955 shares of the firm's 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 sale, the director now directly owns 42,979 shares of the company's stock, valued at $3,935,157.24. This trade represents a 8.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the sale, the insider now owns 13,611 shares of the company's stock, valued at approximately $1,319,994.78. This represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate 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.