Absher Wealth Management LLC Sells 63,334 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Absher Wealth Management LLC decreased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 93.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,533 shares of the asset manager's stock after selling 63,334 shares during the period. Absher Wealth Management LLC's holdings in T. Rowe Price Group were worth $416,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Principal Securities Inc. lifted its position in T. Rowe Price Group by 10.0% in the 4th quarter. Principal Securities Inc. now owns 1,905 shares of the asset manager's stock valued at $215,000 after acquiring an additional 173 shares in the last quarter. Truist Financial Corp increased its holdings in shares of T. Rowe Price Group by 5.6% in the 4th quarter. Truist Financial Corp now owns 70,095 shares of the asset manager's stock worth $7,927,000 after purchasing an additional 3,691 shares in the last quarter. Venturi Wealth Management LLC raised its stake in shares of T. Rowe Price Group by 125.4% in the fourth quarter. Venturi Wealth Management LLC now owns 719 shares of the asset manager's stock worth $81,000 after purchasing an additional 400 shares during the last quarter. Advantage Trust Co lifted its holdings in shares of T. Rowe Price Group by 48.8% during 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 in the last quarter. Finally, Sigma Planning Corp lifted its holdings in shares of T. Rowe Price Group by 4.2% during the fourth quarter. Sigma Planning Corp now owns 14,251 shares of the asset manager's stock valued at $1,612,000 after purchasing an additional 575 shares in the last quarter. Institutional investors own 73.39% of the company's stock.

Analyst Ratings Changes

TROW has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. The Goldman Sachs Group dropped their price target on shares of T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating on the stock in a report on Monday, April 14th. Barclays boosted their price objective on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the company an "underweight" rating in a report on Monday, May 5th. Wells Fargo & Company lowered their price objective on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Finally, Bank of America cut their target price on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a research report on Thursday, April 3rd. Four research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company's stock. According to MarketBeat, T. Rowe Price Group currently has an average rating of "Hold" and an average price target of $94.09.

Insider Buying and Selling at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 968 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the transaction, the insider now directly owns 13,611 shares in the company, valued at approximately $1,319,994.78. The trade was a 6.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert F. Maclellan sold 3,955 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the sale, the director now owns 42,979 shares in the company, valued at approximately $3,935,157.24. The trade was a 8.43% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,923 shares of company stock valued at $646,856. Company insiders own 2.00% of the company's stock.

T. Rowe Price Group Trading Down 0.2%

NASDAQ TROW traded down $0.15 during trading hours on Wednesday, hitting $94.95. 1,077,305 shares of the company's stock traded hands, compared to its average volume of 1,519,043. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The firm has a market capitalization of $20.92 billion, a P/E ratio of 10.77, a P/E/G ratio of 3.09 and a beta of 1.49. The business's fifty day moving average price is $92.44 and its two-hundred day moving average price is $100.94.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a net margin of 28.38% and a return on equity of 20.17%. The business had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.80 billion. During the same quarter last year, the company posted $2.38 EPS. The company's revenue was up .8% compared to the same quarter last year. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a dividend of $1.27 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.08 annualized dividend and a yield of 5.35%. T. Rowe Price Group's dividend payout ratio (DPR) is presently 57.60%.

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.