Focus Partners Wealth Has $1.47 Million Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Focus Partners Wealth trimmed its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 89.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,804 shares of the asset manager's stock after selling 99,780 shares during the quarter. Focus Partners Wealth's holdings in T. Rowe Price Group were worth $1,473,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fiduciary Trust Co raised its holdings in shares of T. Rowe Price Group by 16.3% during the fourth quarter. Fiduciary Trust Co now owns 3,468 shares of the asset manager's stock worth $392,000 after purchasing an additional 485 shares during the period. Deutsche Bank AG increased its holdings in shares of T. Rowe Price Group by 13.0% during the fourth quarter. Deutsche Bank AG now owns 1,006,698 shares of the asset manager's stock valued at $113,847,000 after purchasing an additional 115,422 shares during the period. Crestline Management LP raised its position in shares of T. Rowe Price Group by 309.1% during the 4th quarter. Crestline Management LP now owns 29,002 shares of the asset manager's stock worth $3,280,000 after buying an additional 21,912 shares in the last quarter. Cetera Investment Advisers raised its holdings in T. Rowe Price Group by 4.2% during the fourth quarter. Cetera Investment Advisers now owns 48,865 shares of the asset manager's stock worth $5,526,000 after purchasing an additional 1,948 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its holdings in shares of T. Rowe Price Group by 5.4% in the fourth quarter. Baird Financial Group Inc. now owns 169,974 shares of the asset manager's stock valued at $19,222,000 after buying an additional 8,732 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on TROW. Morgan Stanley lifted their price objective on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Barclays raised their price objective on T. Rowe Price Group from $85.00 to $90.00 and gave the stock an "underweight" rating in a research report on Monday, May 5th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Citigroup reduced their price target on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, StockNews.com cut shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Sunday, February 2nd. Four research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $94.09.

Insiders Place Their Bets

In other news, Director Robert F. Maclellan sold 3,955 shares of the firm'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 transaction of $362,119.80. Following the completion of the sale, the director now owns 42,979 shares of the company's stock, valued at approximately $3,935,157.24. This trade represents a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jessica M. Hiebler sold 968 shares of the 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 now directly owns 13,611 shares in the company, valued at approximately $1,319,994.78. This represents a 6.64% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

T. Rowe Price Group Stock Down 0.9%

Shares of TROW stock traded down $0.87 during trading hours on Tuesday, reaching $97.09. 929,212 shares of the company's stock were exchanged, compared to its average volume of 1,486,325. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The business has a fifty day moving average price of $90.55 and a 200-day moving average price of $105.63. The stock has a market capitalization of $21.39 billion, a P/E ratio of 10.60, a P/E/G ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its 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 business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.80 billion. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The firm's revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the business earned $2.38 earnings per share. As a group, research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders 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 dividend yield of 5.23%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group's dividend payout ratio is 57.60%.

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.