Cresset Asset Management LLC Reduces Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Cresset Asset Management LLC decreased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 33.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,245 shares of the asset manager's stock after selling 10,992 shares during the period. Cresset Asset Management LLC's holdings in T. Rowe Price Group were worth $2,516,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Addison Advisors LLC increased its holdings 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 worth $26,000 after acquiring an additional 93 shares during the period. Curio Wealth LLC bought a new stake in T. Rowe Price Group during the 4th quarter worth approximately $27,000. Y.D. More Investments Ltd increased its holdings in T. Rowe Price Group by 124.0% during the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock worth $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 worth approximately $32,000. Finally, Advantage Trust Co increased its holdings 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. Hedge funds and other institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Stock Performance

NASDAQ:TROW traded up $0.13 during midday trading on Thursday, reaching $97.45. 481,538 shares of the stock traded hands, compared to its average volume of 1,480,247. The company has a fifty day moving average of $90.44 and a 200 day moving average of $106.00. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The stock has a market capitalization of $21.47 billion, a P/E ratio of 10.64, a PEG 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 EPS for the quarter, beating 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 company 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 business posted $2.38 EPS. The firm's revenue was up .8% compared to the same quarter last year. On average, analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a dividend of $1.27 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a yield of 5.21%. T. Rowe Price Group's dividend payout ratio is currently 57.60%.

Wall Street Analyst Weigh In

TROW has been the topic of a number of analyst reports. Bank of America decreased their target price on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a report on Thursday, April 3rd. Barclays boosted their price target 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. Citigroup cut their price target on shares of T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Wells Fargo & Company cut their price target on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Finally, TD Cowen cut their price target on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Four research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $94.09.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, 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 completion of the transaction, the insider now directly owns 13,611 shares of the company's stock, valued at approximately $1,319,994.78. The trade was a 6.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

T. Rowe Price Group Company 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.