T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock Position Lowered by Stephens Inc. AR

Stephens Inc. AR reduced its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,294 shares of the asset manager's stock after selling 2,747 shares during the period. Stephens Inc. AR's holdings in T. Rowe Price Group were worth $6,734,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in TROW. Proficio Capital Partners LLC acquired a new stake in shares of T. Rowe Price Group during the 4th quarter valued at approximately $5,589,000. HighTower Advisors LLC raised its position in shares of T. Rowe Price Group by 13.8% during the 4th quarter. HighTower Advisors LLC now owns 150,550 shares of the asset manager's stock valued at $17,026,000 after acquiring an additional 18,212 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of T. Rowe Price Group by 53.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 5,518 shares of the asset manager's stock valued at $624,000 after acquiring an additional 1,929 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of T. Rowe Price Group by 284.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,547 shares of the asset manager's stock valued at $175,000 after acquiring an additional 1,145 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its stake in T. Rowe Price Group by 15.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 5,083 shares of the asset manager's stock worth $575,000 after buying an additional 669 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 968 shares of the 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 completion of the sale, the insider directly owned 13,611 shares of the company's stock, valued at $1,319,994.78. This 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 is available at the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction that occurred 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 sale, the vice president directly owned 44,789 shares of the company's stock, valued at approximately $4,274,214.27. This represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TROW. JPMorgan Chase & Co. lowered their price target on shares of T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a research report on Wednesday, April 16th. Cowen restated a "hold" rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. The Goldman Sachs Group reduced their price objective on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a research report on Monday, April 14th. Wells Fargo & Company raised 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. Finally, Bank of America reduced their price target on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a research report on Thursday, April 3rd. Four equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group has a consensus rating of "Hold" and an average price target of $95.82.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW traded down $1.63 during trading on Tuesday, reaching $100.63. The company had a trading volume of 1,578,166 shares, compared to its average volume of 1,553,364. The firm's fifty day moving average is $95.65 and its 200 day moving average is $98.98. The firm has a market capitalization of $22.17 billion, a PE ratio of 11.41, a price-to-earnings-growth ratio of 3.06 and a beta of 1.49. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, topping analysts' consensus estimates of $2.13 by $0.10. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.80 billion. T. Rowe Price Group had a net margin of 28.38% and a return on equity of 20.17%. The business's revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.38 EPS. Equities analysts predict 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 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 5.05%. The ex-dividend date of this dividend was Friday, June 13th. T. Rowe Price Group's dividend payout ratio is presently 57.60%.

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.