Burney Co. Sells 160,583 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Burney Co. decreased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 87.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,216 shares of the asset manager's stock after selling 160,583 shares during the quarter. Burney Co.'s holdings in T. Rowe Price Group were worth $2,041,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in TROW. Vanguard Group Inc. lifted its position in shares of T. Rowe Price Group by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager's stock worth $2,947,559,000 after buying an additional 135,203 shares in the last quarter. Fayez Sarofim & Co lifted its position in shares of T. Rowe Price Group by 7.6% during the 4th quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager's stock worth $684,474,000 after buying an additional 425,142 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of T. Rowe Price Group by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager's stock worth $635,260,000 after buying an additional 116,231 shares in the last quarter. Invesco Ltd. lifted its position in shares of T. Rowe Price Group by 1.7% during the 4th quarter. Invesco Ltd. now owns 2,397,819 shares of the asset manager's stock worth $271,169,000 after buying an additional 40,514 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of T. Rowe Price Group by 10.0% during the 4th quarter. Northern Trust Corp now owns 2,290,739 shares of the asset manager's stock worth $259,060,000 after buying an additional 208,304 shares in the last quarter. Institutional investors own 73.39% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on TROW shares. Evercore ISI dropped their target price on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating on the stock in a research report on Friday, April 11th. Citigroup lowered 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. JPMorgan Chase & Co. lifted their price target on shares of T. Rowe Price Group from $90.00 to $98.00 and gave the stock an "underweight" rating in a report on Wednesday, July 16th. Wells Fargo & Company lifted their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Finally, The Goldman Sachs Group lowered 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. Four equities 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, T. Rowe Price Group currently has a consensus rating of "Hold" and a consensus price target of $96.64.

T. Rowe Price Group Trading Down 0.6%

Shares of TROW traded down $0.63 during mid-day trading on Friday, reaching $106.93. 1,380,272 shares of the stock traded hands, compared to its average volume of 1,641,296. The company has a market cap of $23.56 billion, a price-to-earnings ratio of 12.12, a price-to-earnings-growth ratio of 3.20 and a beta of 1.49. The firm has a fifty day moving average price of $97.54 and a 200 day moving average price of $98.67. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, beating 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 firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the firm posted $2.38 earnings per share. The company's quarterly revenue was up .8% compared to the same quarter last year. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date was Friday, June 13th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 57.60%.

Insider Activity at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 968 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the sale, the insider owned 13,611 shares of the company's stock, valued at $1,319,994.78. This trade represents a 6.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total transaction of $190,860.00. Following the completion of the sale, the vice president owned 44,789 shares in the company, valued at $4,274,214.27. This represents a 4.27% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by company 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.