Stratos Wealth Partners LTD. Reduces Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Stratos Wealth Partners LTD. lowered its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 44.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 7,027 shares of the asset manager's stock after selling 5,659 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in T. Rowe Price Group were worth $646,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of TROW. Proficio Capital Partners LLC bought a new position in shares of T. Rowe Price Group during the fourth quarter valued at approximately $5,589,000. HighTower Advisors LLC lifted its position in shares of T. Rowe Price Group by 13.8% during the fourth quarter. HighTower Advisors LLC now owns 150,550 shares of the asset manager's stock worth $17,026,000 after purchasing an additional 18,212 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of T. Rowe Price Group by 53.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 5,518 shares of the asset manager's stock worth $624,000 after purchasing an additional 1,929 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of T. Rowe Price Group by 284.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,547 shares of the asset manager's stock valued at $175,000 after purchasing an additional 1,145 shares during the period. Finally, Avantax Advisory Services Inc. grew its holdings in shares of T. Rowe Price Group by 15.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 5,083 shares of the asset manager's stock worth $575,000 after purchasing an additional 669 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW traded up $0.79 during trading on Monday, hitting $102.26. 1,712,438 shares of the company were exchanged, compared to its average volume of 1,830,422. The company has a fifty day moving average price of $95.44 and a 200-day moving average price of $99.08. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The firm has a market capitalization of $22.53 billion, a PE ratio of 11.59, a P/E/G ratio of 3.10 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly 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 company had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.80 billion. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The firm's revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.38 earnings per share. Research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a dividend of $1.27 per share. The ex-dividend date was Friday, June 13th. This represents a $5.08 annualized dividend and a dividend yield of 4.97%. T. Rowe Price Group's dividend payout ratio (DPR) is currently 57.60%.

Insider Buying and Selling

In other news, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the sale, the insider owned 13,611 shares in the company, valued at approximately $1,319,994.78. The trade was 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 accessible through this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total transaction of $190,860.00. Following the transaction, the vice president directly owned 44,789 shares in the company, valued at $4,274,214.27. The trade was a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Citigroup dropped their target price on shares of T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. The Goldman Sachs Group decreased 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 note on Monday, April 14th. Morgan Stanley boosted their price target on T. Rowe Price Group from $95.00 to $104.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 2nd. Wells Fargo & Company lifted their price objective on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a research note on Friday. Finally, Cowen reaffirmed a "hold" rating on shares of T. Rowe Price Group in a report on Monday, May 5th. 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, the company has an average rating of "Hold" and a consensus target price of $95.82.

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.