Northeast Investment Management Sells 9,578 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Northeast Investment Management lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 13.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,192 shares of the asset manager's stock after selling 9,578 shares during the quarter. Northeast Investment Management's holdings in T. Rowe Price Group were worth $5,714,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of T. Rowe Price Group during the 4th quarter worth about $117,704,000. Marshall Wace LLP acquired a new stake in T. Rowe Price Group during the fourth quarter worth approximately $63,284,000. Fayez Sarofim & Co boosted its holdings in shares of T. Rowe Price Group by 7.6% during the fourth quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager's stock worth $684,474,000 after acquiring an additional 425,142 shares during the period. Amundi grew its position in shares of T. Rowe Price Group by 30.1% in the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager's stock valued at $194,064,000 after purchasing an additional 397,278 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of T. Rowe Price Group by 28.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,762,910 shares of the asset manager's stock valued at $199,367,000 after purchasing an additional 387,604 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on TROW. Wells Fargo & Company reduced their price target on T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Barclays boosted their target price on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the company an "underweight" rating in a research report on Monday, May 5th. JPMorgan Chase & Co. decreased their price target on shares of 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. TD Cowen dropped their price objective on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Finally, Cowen restated a "hold" rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. 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, the company has a consensus rating of "Hold" and an average target price of $94.09.

Insider Transactions at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the sale, the director now directly owns 42,979 shares in the company, valued at $3,935,157.24. This trade represents a 8.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the sale, the insider now owns 13,611 shares in the company, valued at $1,319,994.78. This trade represents a 6.64% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock traded down $0.56 during trading on Thursday, reaching $94.54. 576,622 shares of the company's stock were exchanged, compared to its average volume of 1,504,782. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81. The company has a market cap of $20.83 billion, a P/E ratio of 10.32, a PEG ratio of 2.86 and a beta of 1.49. The firm's 50-day moving average price is $91.17 and its 200 day moving average price is $103.01.

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 the consensus estimate of $1.80 billion. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The firm's quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the company posted $2.38 EPS. As a group, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a dividend of $1.27 per share. The ex-dividend date is Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.37%. T. Rowe Price Group's payout ratio is presently 57.60%.

About T. Rowe Price Group

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.