T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Davis R M Inc.

Key Points

• Davis R M Inc. reduced its holdings in T. Rowe Price Group by 41.1%, owning 32,273 shares worth approximately $2.965 million after selling 22,539 shares in the first quarter.
• Wall Street analysts have mixed ratings on T. Rowe Price Group, with targets ranging from $89.00 to $108.00 and an average price target of $96.64.
• T. Rowe Price Group declared a quarterly dividend of $1.27 per share, providing an annualized yield of 4.89% with a payout ratio of 57.60%.

Davis R M Inc. lowered its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 41.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,273 shares of the asset manager's stock after selling 22,539 shares during the quarter. Davis R M Inc.'s holdings in T. Rowe Price Group were worth $2,965,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Marshall Wace LLP bought a new stake in T. Rowe Price Group during the fourth quarter worth about $63,284,000. Fayez Sarofim & Co boosted its holdings in shares of T. Rowe Price Group by 7.6% in the 4th quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager's stock valued at $684,474,000 after purchasing an additional 425,142 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of T. Rowe Price Group by 28.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,762,910 shares of the asset manager's stock valued at $199,367,000 after acquiring an additional 387,604 shares during the last quarter. GAMMA Investing LLC grew its holdings in T. Rowe Price Group by 9,555.5% during the 1st quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock worth $30,612,000 after acquiring an additional 329,761 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of T. Rowe Price Group in the 4th quarter valued at about $32,332,000. Institutional investors own 73.39% of the company's stock.

Analyst Upgrades and Downgrades

TROW has been the topic of a number of research reports. Bank of America lowered their price target on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a report on Thursday, April 3rd. Cowen restated a "hold" rating on shares of T. Rowe Price Group in a report on Monday, May 5th. The Goldman Sachs Group dropped their target price 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. Morgan Stanley raised their price objective on shares of T. Rowe Price Group from $95.00 to $104.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 2nd. Finally, Citigroup cut their target price on shares of 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. Four research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $96.64.

T. Rowe Price Group Stock Up 1.6%

TROW traded up $1.61 on Friday, reaching $103.06. 3,037,752 shares of the company traded hands, compared to its average volume of 1,715,608. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The firm has a fifty day simple moving average of $98.38 and a two-hundred day simple moving average of $98.42. The company has a market cap of $22.71 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 2.99 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.38% and a return on equity of 20.17%. The firm had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter in the prior year, the company earned $2.26 EPS. The company's revenue was down .6% compared to the same quarter last year. On average, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share 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. Stockholders of record on Friday, June 13th were issued a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Friday, June 13th. T. Rowe Price Group's dividend payout ratio is 57.60%.

Insider Buying and Selling at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction 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 sale, the insider directly owned 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction 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 sale, the vice president directly owned 44,789 shares in the company, valued at $4,274,214.27. This trade represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate 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.