Sawgrass Asset Management LLC decreased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 60.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,449 shares of the asset manager's stock after selling 3,786 shares during the quarter. Sawgrass Asset Management LLC's holdings in T. Rowe Price Group were worth $225,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TROW. Principal Securities Inc. grew its holdings in shares of T. Rowe Price Group by 10.0% during the 4th quarter. Principal Securities Inc. now owns 1,905 shares of the asset manager's stock worth $215,000 after purchasing an additional 173 shares during the period. Venturi Wealth Management LLC grew its holdings in shares of T. Rowe Price Group by 125.4% during the 4th quarter. Venturi Wealth Management LLC now owns 719 shares of the asset manager's stock worth $81,000 after purchasing an additional 400 shares during the period. Sigma Planning Corp grew its holdings in shares of T. Rowe Price Group by 4.2% during the 4th quarter. Sigma Planning Corp now owns 14,251 shares of the asset manager's stock worth $1,612,000 after purchasing an additional 575 shares during the period. Olympiad Research LP purchased a new stake in shares of T. Rowe Price Group during the 4th quarter worth about $238,000. Finally, Wealthspire Advisors LLC grew its holdings in shares of T. Rowe Price Group by 2.8% during the 4th quarter. Wealthspire Advisors LLC now owns 12,505 shares of the asset manager's stock worth $1,414,000 after purchasing an additional 344 shares during the period. Hedge funds and other institutional investors own 73.39% of the company's stock.
Insider Activity at T. Rowe Price Group
In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total value of $190,860.00. Following the sale, the vice president now directly owns 44,789 shares of the company's stock, valued at $4,274,214.27. This trade represents a 4.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the sale, the director now directly owns 42,979 shares in the company, valued at $3,935,157.24. This represents a 8.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,923 shares of company stock valued at $646,856. Corporate insiders own 1.60% of the company's stock.
T. Rowe Price Group Stock Up 1.2%
Shares of TROW traded up $1.11 during trading on Tuesday, reaching $95.10. The company's stock had a trading volume of 1,247,237 shares, compared to its average volume of 1,517,952. The company has a fifty day moving average of $92.44 and a two-hundred day moving average of $100.94. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The company has a market cap of $20.95 billion, a price-to-earnings ratio of 10.78, a P/E/G ratio of 3.05 and a beta of 1.49.
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 (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.10. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The business's revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.38 EPS. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.
T. Rowe Price Group Dividend Announcement
The company also recently declared 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. This represents a $5.08 annualized dividend and a dividend yield of 5.34%. The ex-dividend date is Friday, June 13th. T. Rowe Price Group's dividend payout ratio is currently 57.60%.
Analysts Set New Price Targets
A number of analysts have recently issued reports on TROW shares. Evercore ISI decreased their target price on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a report on Friday, April 11th. Barclays upped their price target on T. Rowe Price Group from $85.00 to $90.00 and gave the stock an "underweight" rating in a report on Monday, May 5th. Wells Fargo & Company decreased 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 report on Tuesday, April 8th. The Goldman Sachs Group decreased their price target on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. decreased their price target on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. Four equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $94.09.
Check Out Our Latest Stock Report on TROW
T. Rowe Price Group Profile
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Free Report)
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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