Harbor Investment Advisory LLC Decreases Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Harbor Investment Advisory LLC trimmed its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 17.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 14,318 shares of the asset manager's stock after selling 2,937 shares during the period. Harbor Investment Advisory LLC's holdings in T. Rowe Price Group were worth $1,315,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of TROW. Mediolanum International Funds Ltd bought a new position in T. Rowe Price Group during the 4th quarter worth $1,688,000. Caprock Group LLC raised its position in T. Rowe Price Group by 19.6% during the 4th quarter. Caprock Group LLC now owns 3,555 shares of the asset manager's stock worth $402,000 after purchasing an additional 583 shares during the last quarter. CENTRAL TRUST Co raised its position in T. Rowe Price Group by 10.3% during the 4th quarter. CENTRAL TRUST Co now owns 3,078 shares of the asset manager's stock worth $348,000 after purchasing an additional 288 shares during the last quarter. Willis Investment Counsel raised its position in T. Rowe Price Group by 0.3% during the 4th quarter. Willis Investment Counsel now owns 221,426 shares of the asset manager's stock worth $25,041,000 after purchasing an additional 572 shares during the last quarter. Finally, Verity Asset Management Inc. raised its position in T. Rowe Price Group by 9.3% during the 4th quarter. Verity Asset Management Inc. now owns 11,329 shares of the asset manager's stock worth $1,281,000 after purchasing an additional 962 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Robert F. Maclellan sold 3,955 shares of the firm's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the transaction, the director now owns 42,979 shares of the company's stock, valued at approximately $3,935,157.24. This trade represents a 8.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, May 12th. The stock was 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 in the company, valued at approximately $1,319,994.78. This represents a 6.64% 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 Up 0.2%

T. Rowe Price Group stock traded up $0.21 during trading hours on Wednesday, reaching $93.79. 1,300,348 shares of the company's stock were exchanged, compared to its average volume of 1,497,050. The firm's 50 day simple moving average is $90.59 and its 200 day simple moving average is $103.90. The firm has a market capitalization of $20.66 billion, a PE ratio of 10.24, a PEG ratio of 2.86 and a beta of 1.49. 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 issued its earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, beating the consensus estimate of $2.13 by $0.10. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The firm's revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the business posted $2.38 EPS. Analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced 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. The ex-dividend date is Friday, June 13th. This represents a $5.08 annualized dividend and a dividend yield of 5.42%. T. Rowe Price Group's dividend payout ratio is presently 57.60%.

Analysts Set New Price Targets

Several research analysts recently issued reports on TROW shares. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Bank of America lowered their target price on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a research report on Thursday, April 3rd. Evercore ISI lowered their target price on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a research report on Friday, April 11th. TD Cowen lowered their target price on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Finally, The Goldman Sachs Group decreased their price target on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a report on Monday, April 14th. Four investment analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $94.09.

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.