RFG Advisory LLC Sells 3,125 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

RFG Advisory LLC lowered its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 52.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,877 shares of the asset manager's stock after selling 3,125 shares during the quarter. RFG Advisory LLC's holdings in T. Rowe Price Group were worth $264,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TROW. Addison Advisors LLC grew its position in T. Rowe Price Group by 67.4% in the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock worth $26,000 after acquiring an additional 93 shares in the last quarter. Curio Wealth LLC bought a new stake in shares of T. Rowe Price Group in the 4th quarter valued at approximately $27,000. Stonebridge Financial Group LLC bought a new stake in shares of T. Rowe Price Group in the 4th quarter valued at approximately $32,000. Advantage Trust Co boosted its holdings in shares of T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock worth $34,000 after purchasing an additional 100 shares during the period. Finally, Ameriflex Group Inc. bought a new position in shares of T. Rowe Price Group during the 4th quarter valued at approximately $42,000. Institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $94.28 on Friday. The business has a 50 day moving average price of $90.71 and a 200 day moving average price of $103.39. The company has a market capitalization of $20.77 billion, a P/E ratio of 10.29, a PEG ratio of 2.86 and a beta of 1.49. 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 announced its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the firm earned $2.38 earnings per share. The company's revenue for the quarter was up .8% compared to the same quarter last year. On average, research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a dividend of $1.27 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a yield of 5.39%. T. Rowe Price Group's dividend payout ratio (DPR) is currently 57.60%.

Insiders Place Their Bets

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 transaction of $362,119.80. Following the completion of the sale, the director now directly owns 42,979 shares of the company's stock, valued at approximately $3,935,157.24. This represents a 8.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 968 shares of the 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 of the company's stock, valued at approximately $1,319,994.78. This trade represents a 6.64% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on TROW. Evercore ISI dropped their price objective on shares of 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. Bank of America dropped their price target on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a research note on Thursday, April 3rd. The Goldman Sachs Group reduced their price objective on shares of 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. Barclays raised their price objective 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. Finally, Morgan Stanley increased their price target on T. Rowe Price Group from $94.00 to $95.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Four equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $94.09.

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.

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