T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by KBC Group NV

KBC Group NV cut its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 17.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 249,066 shares of the asset manager's stock after selling 52,540 shares during the period. KBC Group NV owned 0.11% of T. Rowe Price Group worth $22,882,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TROW. Vanguard Group Inc. boosted its position in shares of T. Rowe Price Group by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager's stock worth $2,947,559,000 after purchasing an additional 135,203 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of T. Rowe Price Group by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager's stock valued at $812,798,000 after buying an additional 346,369 shares during the period. Fayez Sarofim & Co boosted its holdings in 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 valued at $684,474,000 after acquiring an additional 425,142 shares during the period. Geode Capital Management LLC increased its stake in T. Rowe Price Group by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager's stock worth $635,260,000 after purchasing an additional 116,231 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of T. Rowe Price Group by 1.7% in the fourth quarter. Invesco Ltd. now owns 2,397,819 shares of the asset manager's stock valued at $271,169,000 after purchasing an additional 40,514 shares during the period. Institutional investors and hedge funds own 73.39% of the company's stock.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction that occurred 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 completion of the sale, the insider owned 13,611 shares of the company's stock, valued at approximately $1,319,994.78. This represents a 6.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the transaction, 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. Company insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on TROW shares. Citigroup dropped their price objective on shares of T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. TD Cowen lowered their price target on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Barclays upped their price objective on T. Rowe Price Group from $85.00 to $90.00 and gave the company an "underweight" rating in a research note on Monday, May 5th. Wells Fargo & Company dropped their target price on T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Finally, Bank of America decreased their price target on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a report on Thursday, April 3rd. Four analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $94.91.

T. Rowe Price Group Stock Performance

NASDAQ TROW traded up $1.29 during trading hours on Wednesday, hitting $99.96. 1,346,014 shares of the company's stock were exchanged, compared to its average volume of 1,532,601. The business's 50 day moving average is $93.54 and its 200-day moving average is $100.07. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The firm has a market capitalization of $22.02 billion, a P/E ratio of 11.33, a price-to-earnings-growth ratio of 3.20 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a net margin of 28.38% and a return on equity of 20.17%. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the firm earned $2.38 earnings per share. T. Rowe Price Group's revenue was up .8% compared to the same quarter last year. As a group, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid 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 5.08%. T. Rowe Price Group's dividend payout ratio is presently 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.