Fenimore Asset Management Inc Sells 14,135 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Fenimore Asset Management Inc lowered its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 31.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,832 shares of the asset manager's stock after selling 14,135 shares during the period. Fenimore Asset Management Inc's holdings in T. Rowe Price Group were worth $2,833,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in T. Rowe Price Group by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager's stock valued at $2,947,559,000 after purchasing an additional 135,203 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of T. Rowe Price Group by 5.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager's stock worth $812,798,000 after acquiring an additional 346,369 shares during the period. Fayez Sarofim & Co lifted its holdings 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 acquiring an additional 425,142 shares during the period. Geode Capital Management LLC lifted its holdings 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 acquiring an additional 116,231 shares during the period. Finally, Provident Trust Co. lifted its holdings in shares of T. Rowe Price Group by 8.9% during the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager's stock worth $295,311,000 after acquiring an additional 213,566 shares during the period. Institutional investors own 73.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TROW shares. Evercore ISI cut their price target on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a report on Friday, April 11th. Cowen reaffirmed a "hold" rating on shares of T. Rowe Price Group in a report on Monday, May 5th. TD Cowen cut their price target on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Barclays upped their price objective on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the stock an "underweight" rating in a research report on Monday, May 5th. Finally, Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Four investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $94.09.

Insider Activity

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 transaction, the insider now directly owns 13,611 shares of the company's stock, valued at $1,319,994.78. This 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 can be accessed through the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the transaction, the director now directly owns 42,979 shares in the company, valued at approximately $3,935,157.24. This represents a 8.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $94.28 on Monday. The firm's fifty day moving average is $90.71 and its 200-day moving average is $103.29. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. 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 posted its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, beating analysts' consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the firm posted $2.38 EPS. The company's quarterly revenue was up .8% 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 disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.39%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group's dividend payout ratio is currently 57.60%.

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.

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