T. Rowe Price Group, Inc. (NASDAQ:TROW) Stake Cut 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% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm 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 hedge funds and other institutional investors also recently modified their holdings of TROW. Orion Portfolio Solutions LLC grew its holdings in T. Rowe Price Group by 16.1% during the 4th quarter. Orion Portfolio Solutions LLC now owns 17,789 shares of the asset manager's stock valued at $2,012,000 after buying an additional 2,464 shares during the last quarter. Schroder Investment Management Group boosted its stake in shares of T. Rowe Price Group by 49.4% during the fourth quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager's stock valued at $25,229,000 after acquiring an additional 73,307 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of T. Rowe Price Group by 13.5% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 17,103 shares of the asset manager's stock valued at $1,934,000 after acquiring an additional 2,037 shares during the last quarter. Wellington Management Group LLP raised its stake in T. Rowe Price Group by 30.9% in the 4th quarter. Wellington Management Group LLP now owns 72,092 shares of the asset manager's stock valued at $8,153,000 after purchasing an additional 16,999 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in T. Rowe Price Group by 2.9% during the fourth quarter. Alliancebernstein L.P. now owns 310,160 shares of the asset manager's stock worth $35,076,000 after acquiring an additional 8,668 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TROW shares. Citigroup lowered 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 report on Monday, April 14th. Keefe, Bruyette & Woods increased their target price on T. Rowe Price Group from $110.00 to $112.00 and gave the stock a "market perform" rating in a research report on Monday. JPMorgan Chase & Co. upped their price target on T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a research note on Monday. The Goldman Sachs Group reduced their price objective on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating on the stock in a research note on Monday, April 14th. Finally, Barclays increased their target price on shares of T. Rowe Price Group from $91.00 to $95.00 and gave the stock an "underweight" rating in a research report on Monday. Four investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $101.09.

T. Rowe Price Group Trading Up 2.4%

TROW stock traded up $2.49 during mid-day trading on Monday, hitting $105.55. 868,717 shares of the company were exchanged, compared to its average volume of 1,841,106. The firm has a fifty day simple moving average of $98.38 and a 200 day simple moving average of $98.22. The company has a market capitalization of $23.25 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 3.03 and a beta of 1.47. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.84%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the previous year, the company posted $2.26 earnings per share. The firm's revenue was down .6% on a year-over-year basis. As a group, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a dividend of $1.27 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $5.08 annualized dividend and a yield of 4.8%. T. Rowe Price Group's payout ratio is presently 56.76%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, 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 completion of the transaction, the vice president directly owned 44,789 shares of the company's stock, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of the business'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 owned 13,611 shares in the company, 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. 2.00% of the stock is owned by insiders.

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.