Bennett Selby Investments LP Sells 4,660 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Bennett Selby Investments LP lowered its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 43.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,026 shares of the asset manager's stock after selling 4,660 shares during the period. Bennett Selby Investments LP's holdings in T. Rowe Price Group were worth $554,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of TROW. Addison Advisors LLC raised its position in shares of T. Rowe Price Group by 67.4% in the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock valued at $26,000 after purchasing an additional 93 shares during the period. Curio Wealth LLC bought a new stake in shares of T. Rowe Price Group in the fourth quarter valued at approximately $27,000. Stonebridge Financial Group LLC bought a new stake in shares of T. Rowe Price Group in the fourth quarter valued at approximately $32,000. 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. Finally, Ameriflex Group Inc. bought a new stake in T. Rowe Price Group during the 4th quarter worth approximately $42,000. Institutional investors own 73.39% of the company's stock.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,955 shares of the firm's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total value 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 approximately $3,935,157.24. This trade represents a 8.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 968 shares of the firm's stock in a transaction dated 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 sale, the insider now directly 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. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Stock Performance

TROW stock opened at $94.28 on Friday. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The firm's fifty day moving average is $90.71 and its 200 day moving average is $103.39. The firm has a market cap of $20.77 billion, a P/E ratio of 10.29, a P/E/G ratio of 2.86 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.10. The business had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.80 billion. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The firm's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.38 EPS. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders 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 5.39%. T. Rowe Price Group's payout ratio is currently 57.60%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TROW shares. Morgan Stanley upped their target price on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Evercore ISI decreased their price target on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. decreased their price target on shares of T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Citigroup decreased their price target on shares of T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Barclays increased 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 report on Monday, May 5th. Four investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $94.09.

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.

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