Forum Financial Management LP Purchases Shares of 2,949 T. Rowe Price Group, Inc. (NASDAQ:TROW)

Forum Financial Management LP acquired a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,949 shares of the asset manager's stock, valued at approximately $334,000.

Other hedge funds have also added to or reduced their stakes in the company. Addison Advisors LLC increased its stake in shares of T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock worth $26,000 after purchasing an additional 93 shares during the last quarter. Curio Wealth LLC bought a new position in T. Rowe Price Group during the fourth quarter valued at $27,000. Y.D. More Investments Ltd increased its position in T. Rowe Price Group by 124.0% in the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock worth $32,000 after buying an additional 155 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of T. Rowe Price Group in the fourth quarter valued at $32,000. Finally, Advantage Trust Co raised its stake in shares of T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock valued at $34,000 after buying an additional 100 shares during the period. Institutional investors own 73.39% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TROW shares. Morgan Stanley lifted their price objective on T. Rowe Price Group from $94.00 to $95.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Cowen reiterated a "hold" rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. 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 research report on Monday, April 14th. Wells Fargo & Company cut their price objective on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Finally, Bank of America lowered their target price 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. Four equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $94.09.

Insider Buying and Selling at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 968 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the sale, the insider now owns 13,611 shares in the company, valued at $1,319,994.78. The trade was a 6.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the company's stock in a transaction that occurred on 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 sale, the director now directly 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. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Stock Down 1.0%

Shares of TROW stock traded down $0.98 on Friday, reaching $93.33. The company's stock had a trading volume of 2,885,583 shares, compared to its average volume of 1,496,164. The company has a market capitalization of $20.56 billion, a P/E ratio of 10.19, a PEG ratio of 2.86 and a beta of 1.50. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The stock's 50 day simple moving average is $90.66 and its 200-day simple moving average is $104.26.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.10. The firm had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.80 billion. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The company's revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.38 EPS. Research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors 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 yield of 5.44%. The ex-dividend date is Friday, June 13th. T. Rowe Price Group's dividend payout ratio is currently 57.60%.

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.