Asset Advisors Investment Management LLC Sells 3,380 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Asset Advisors Investment Management LLC lowered its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 6.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,350 shares of the asset manager's stock after selling 3,380 shares during the quarter. Asset Advisors Investment Management LLC's holdings in T. Rowe Price Group were worth $4,166,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Exchange Traded Concepts LLC grew its stake in T. Rowe Price Group by 27.9% in the first quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager's stock valued at $89,000 after purchasing an additional 212 shares in the last quarter. Schroder Investment Management Group grew its stake in T. Rowe Price Group by 49.4% in the fourth quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager's stock valued at $25,229,000 after purchasing an additional 73,307 shares in the last quarter. Mather Group LLC. grew its stake in T. Rowe Price Group by 11.9% in the first quarter. Mather Group LLC. now owns 135,571 shares of the asset manager's stock valued at $12,455,000 after purchasing an additional 14,371 shares in the last quarter. GAMMA Investing LLC grew its stake in T. Rowe Price Group by 9,555.5% in the first quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock valued at $30,612,000 after purchasing an additional 329,761 shares in the last quarter. Finally, Alps Advisors Inc. grew its stake in T. Rowe Price Group by 22.9% in the first quarter. Alps Advisors Inc. now owns 308,837 shares of the asset manager's stock valued at $28,373,000 after purchasing an additional 57,503 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock traded up $3.36 during trading on Thursday, reaching $106.41. 2,356,036 shares of the company's stock were exchanged, compared to its average volume of 1,561,756. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81. The company has a market cap of $23.44 billion, a P/E ratio of 12.06, a PEG ratio of 3.09 and a beta of 1.49. The firm's 50-day moving average price is $96.10 and its 200 day moving average price is $99.02.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released 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 return on equity of 20.17% and a net margin of 28.38%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the company posted $2.38 EPS. The business's revenue was up .8% on a year-over-year basis. As a group, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend was Friday, June 13th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 57.60%.

Analyst Ratings Changes

Several research analysts have recently commented on TROW shares. Wells Fargo & Company lifted their target price on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Cowen reiterated a "hold" rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. Citigroup reduced their target price on 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. JPMorgan Chase & Co. boosted their price target on T. Rowe Price Group from $90.00 to $98.00 and gave the company an "underweight" rating in a research note on Wednesday. Finally, Bank of America reduced their price target on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a research note on Thursday, April 3rd. Four research analysts have rated the stock with a sell rating and nine have given a hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $96.64.

Insider Activity at T. Rowe Price Group

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the sale, the vice president directly owned 44,789 shares of the company's stock, valued at $4,274,214.27. This represents a 4.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the sale, the insider directly owned 13,611 shares of the company's stock, valued at approximately $1,319,994.78. This trade represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.