T. Rowe Price Group, Inc. (NASDAQ:TROW) Stake Cut by North Star Asset Management Inc.

North Star Asset Management Inc. trimmed its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,823 shares of the asset manager's stock after selling 4,631 shares during the period. North Star Asset Management Inc. owned about 0.08% of T. Rowe Price Group worth $21,015,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Sunbelt Securities Inc. lifted its stake in shares of T. Rowe Price Group by 23.4% during the 4th quarter. Sunbelt Securities Inc. now owns 3,242 shares of the asset manager's stock worth $369,000 after purchasing an additional 614 shares during the period. JT Stratford LLC boosted its stake in T. Rowe Price Group by 4.5% in the 4th quarter. JT Stratford LLC now owns 15,354 shares of the asset manager's stock worth $1,736,000 after buying an additional 658 shares during the last quarter. Cornerstone Advisory LLC grew its holdings in T. Rowe Price Group by 21.2% in the 4th quarter. Cornerstone Advisory LLC now owns 84,146 shares of the asset manager's stock valued at $9,018,000 after buying an additional 14,718 shares during the period. McIlrath & Eck LLC increased its stake in shares of T. Rowe Price Group by 2,138.2% during the 4th quarter. McIlrath & Eck LLC now owns 761 shares of the asset manager's stock valued at $86,000 after acquiring an additional 727 shares during the last quarter. Finally, Novem Group purchased a new position in shares of T. Rowe Price Group during the 4th quarter worth about $291,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW traded down $1.56 during mid-day trading on Wednesday, hitting $94.00. 901,904 shares of the company traded hands, compared to its average volume of 1,490,979. The firm's 50 day simple moving average is $90.71 and its 200 day simple moving average is $104.77. The firm has a market cap of $20.71 billion, a P/E ratio of 10.26, a PEG ratio of 2.86 and a beta of 1.50. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81.

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

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $1.27 dividend. The ex-dividend date is Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a yield of 5.40%. T. Rowe Price Group's payout ratio is currently 57.60%.

Insider Activity

In related news, Director Robert F. Maclellan sold 3,955 shares of the company's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the sale, the director now directly owns 42,979 shares of the company's stock, valued at $3,935,157.24. This represents a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jessica M. Hiebler sold 968 shares of the firm's stock in a transaction 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 of the company's stock, valued at approximately $1,319,994.78. This represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Barclays increased their price target on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the stock an "underweight" rating in a research note on Monday, May 5th. Cowen reaffirmed a "hold" rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Morgan Stanley boosted their price target on T. Rowe Price Group from $94.00 to $95.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Evercore ISI dropped their price target on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a research note on Friday, April 11th. Finally, Wall Street Zen lowered T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. Four equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $94.09.

T. Rowe Price Group Company 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.