Confluence Investment Management LLC Sells 28,179 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Confluence Investment Management LLC lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 2.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 958,342 shares of the asset manager's stock after selling 28,179 shares during the period. Confluence Investment Management LLC owned about 0.43% of T. Rowe Price Group worth $88,043,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in TROW. Addison Advisors LLC lifted its holdings 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 purchasing an additional 93 shares during the period. Curio Wealth LLC acquired a new stake in T. Rowe Price Group in the 4th quarter valued at about $27,000. Y.D. More Investments Ltd lifted its holdings in T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock valued at $32,000 after acquiring an additional 155 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in T. Rowe Price Group in the 4th quarter valued at about $32,000. Finally, Advantage Trust Co raised its holdings in T. Rowe Price Group by 48.8% during the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock worth $34,000 after buying an additional 100 shares during the period. Institutional investors own 73.39% of the company's stock.

Insiders Place Their Bets

In other news, Director Robert F. Maclellan sold 3,955 shares of the business's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the transaction, the director now owns 42,979 shares in the company, valued at approximately $3,935,157.24. The trade was a 8.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessica M. Hiebler sold 968 shares of the business's stock in a transaction that occurred on 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 transaction, the insider now directly owns 13,611 shares in the company, valued at approximately $1,319,994.78. This trade represents a 6.64% decrease in their ownership of the stock. 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

TROW traded down $1.42 during midday trading on Monday, reaching $92.17. 510,029 shares of the company were exchanged, compared to its average volume of 1,492,294. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The stock has a market capitalization of $20.31 billion, a P/E ratio of 10.06, a PEG ratio of 2.86 and a beta of 1.50. The stock's 50-day simple moving average is $90.66 and its 200 day simple moving average is $104.16.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, beating the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The firm had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.80 billion. During the same quarter in the previous year, the business posted $2.38 EPS. The business's quarterly revenue was up .8% compared to the same quarter last year. On average, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 5.51%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 57.60%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TROW. Morgan Stanley increased their price objective 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. Evercore ISI dropped their price objective on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating on the stock in a report on Friday, April 11th. Wall Street Zen downgraded T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Sunday, February 2nd. Citigroup decreased their target price on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Cowen reaffirmed 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 assigned a hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $94.09.

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.