T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Mayflower Financial Advisors LLC

Mayflower Financial Advisors LLC lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 53.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,518 shares of the asset manager's stock after selling 2,857 shares during the period. Mayflower Financial Advisors LLC's holdings in T. Rowe Price Group were worth $231,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of TROW. Hexagon Capital Partners LLC raised its position in T. Rowe Price Group by 44.8% in the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock valued at $34,000 after purchasing an additional 113 shares during the period. Smallwood Wealth Investment Management LLC acquired a new stake in shares of T. Rowe Price Group in the first quarter valued at $39,000. Chilton Capital Management LLC acquired a new stake in shares of T. Rowe Price Group in the first quarter valued at $41,000. Ameriflex Group Inc. purchased a new stake in shares of T. Rowe Price Group in the 4th quarter valued at $42,000. Finally, Wayfinding Financial LLC purchased a new stake in shares of T. Rowe Price Group in the 1st quarter valued at $43,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 968 shares of the firm's 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 sale, the insider owned 13,611 shares of the company's stock, valued at approximately $1,319,994.78. This trade represents a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total transaction of $190,860.00. Following the completion of the transaction, the vice president owned 44,789 shares of the company's stock, valued at approximately $4,274,214.27. The trade was a 4.27% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

T. Rowe Price Group Price Performance

Shares of TROW traded down $0.64 during midday trading on Friday, reaching $105.77. The stock had a trading volume of 4,819,403 shares, compared to its average volume of 1,577,692. The company has a market cap of $23.30 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 3.16 and a beta of 1.49. The company's fifty day simple moving average is $96.37 and its two-hundred day simple moving average is $98.97. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, beating analysts' consensus estimates of $2.13 by $0.10. The company 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 20.17% and a net margin of 28.38%. T. Rowe Price Group's quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the firm earned $2.38 earnings per share. On average, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 4.80%. The ex-dividend date of this dividend was Friday, June 13th. T. Rowe Price Group's payout ratio is 57.60%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wells Fargo & Company lifted their target price on T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Citigroup lowered their price objective on shares of T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Barclays upped their target price on shares of T. Rowe Price Group from $90.00 to $91.00 and gave the stock an "underweight" rating in a research note on Wednesday. Evercore ISI reduced their target price on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating on the stock in a report on Friday, April 11th. Finally, Morgan Stanley raised their price target on shares of T. Rowe Price Group from $95.00 to $104.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 2nd. Four analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to MarketBeat.com, T. Rowe Price Group presently has a consensus rating of "Hold" and a consensus price target of $96.64.

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.