CWA Asset Management Group LLC Reduces Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

CWA Asset Management Group LLC decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 22.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,531 shares of the asset manager's stock after selling 9,583 shares during the period. CWA Asset Management Group LLC's holdings in T. Rowe Price Group were worth $3,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Addison Advisors LLC grew its holdings in T. Rowe Price Group by 67.4% during 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 position in shares of T. Rowe Price Group during the 4th quarter valued at approximately $27,000. Advantage Trust Co grew its stake in shares of T. Rowe Price Group by 48.8% during the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock valued at $34,000 after acquiring an additional 100 shares during the period. Ameriflex Group Inc. purchased a new stake in T. Rowe Price Group in the 4th quarter worth approximately $42,000. Finally, Summit Securities Group LLC bought a new stake in T. Rowe Price Group during the 4th quarter worth approximately $57,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TROW has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. Bank of America dropped 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 report on Thursday, April 3rd. Barclays raised their price target on T. Rowe Price Group from $85.00 to $90.00 and gave the company an "underweight" rating in a report on Monday, May 5th. Morgan Stanley upped their price objective on T. Rowe Price Group from $94.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Finally, Citigroup decreased their target price on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Four investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $94.09.

T. Rowe Price Group Trading Up 0.6%

Shares of NASDAQ:TROW traded up $0.56 during mid-day trading on Thursday, reaching $92.14. The stock had a trading volume of 1,044,939 shares, compared to its average volume of 1,511,518. The business's 50 day moving average price is $91.98 and its 200 day moving average price is $101.93. 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 $20.30 billion, a P/E ratio of 10.45, a price-to-earnings-growth ratio of 2.97 and a beta of 1.49.

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

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 5.51%. The ex-dividend date is Friday, June 13th. T. Rowe Price Group's payout ratio is 57.60%.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total transaction of $190,860.00. Following the sale, the vice president now directly owns 44,789 shares in the company, valued at approximately $4,274,214.27. This represents a 4.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $362,119.80. Following the completion of the transaction, the director now owns 42,979 shares of the company's stock, valued at approximately $3,935,157.24. This represents a 8.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,923 shares of company stock worth $646,856 over the last 90 days. 2.00% of the stock is owned by 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.