T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Kintegral Advisory LLC

Kintegral Advisory LLC trimmed its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 32.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,783 shares of the asset manager's stock after selling 11,174 shares during the period. Kintegral Advisory LLC's holdings in T. Rowe Price Group were worth $2,093,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Curio Wealth LLC acquired a new stake in T. Rowe Price Group in the 4th quarter worth about $27,000. Ameriflex Group Inc. acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at about $42,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of T. Rowe Price Group in the 1st quarter valued at about $39,000. Summit Securities Group LLC acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at about $57,000. Finally, Park Square Financial Group LLC acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at about $61,000. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Trading Down 1.2%

TROW stock traded down $1.25 during midday trading on Monday, hitting $98.90. 1,346,692 shares of the company's stock were exchanged, compared to its average volume of 1,534,911. 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 50 day moving average price of $94.26 and a 200-day moving average price of $99.63. The stock has a market capitalization of $21.79 billion, a price-to-earnings ratio of 11.21, a price-to-earnings-growth ratio of 3.21 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the business earned $2.38 EPS. T. Rowe Price Group's revenue for the quarter was up .8% compared to the same quarter last year. On average, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders 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 5.14%. T. Rowe Price Group's dividend payout ratio is presently 57.60%.

Wall Street Analyst Weigh In

TROW has been the topic of several research analyst reports. TD Cowen reduced their price objective on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Evercore ISI reduced their price objective on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. reduced their price objective on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 16th. Bank of America reduced their price objective on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a research note on Thursday, April 3rd. Finally, The Goldman Sachs Group reduced their price target on 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. Four analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to MarketBeat.com, T. Rowe Price Group has a consensus rating of "Hold" and a consensus price target of $94.91.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, 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 sale, the insider directly owned 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the sale, the vice president directly owned 44,789 shares in the company, valued at approximately $4,274,214.27. This represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

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.