T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Lbp Am Sa

LBP AM SA cut its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 3.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 141,830 shares of the asset manager's stock after selling 5,536 shares during the quarter. LBP AM SA owned 0.06% of T. Rowe Price Group worth $13,030,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TROW. Proficio Capital Partners LLC bought a new stake in shares of T. Rowe Price Group in the fourth quarter worth about $5,589,000. Raymond James Financial Inc. bought a new stake in shares of T. Rowe Price Group in the 4th quarter worth approximately $32,332,000. Callan Family Office LLC purchased a new position in shares of T. Rowe Price Group during the fourth quarter valued at approximately $252,000. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of T. Rowe Price Group by 7.4% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,975 shares of the asset manager's stock valued at $496,000 after acquiring an additional 275 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in T. Rowe Price Group by 7.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 29,186 shares of the asset manager's stock worth $3,301,000 after acquiring an additional 2,064 shares during the period. 73.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Friday. Morgan Stanley raised 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. 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 research report on Monday, April 14th. TD Cowen lowered their price target on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Finally, Barclays upped their price objective on T. Rowe Price Group from $85.00 to $90.00 and gave the company an "underweight" rating in a research report on Monday, May 5th. Four research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to MarketBeat, T. Rowe Price Group has an average rating of "Hold" and an average target price of $95.82.

Insider Buying and Selling

In related news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group 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 completion of the transaction, the vice president directly owned 44,789 shares in the company, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the sale, the insider directly owned 13,611 shares in the company, valued at $1,319,994.78. This trade represents a 6.64% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Trading Down 1.4%

NASDAQ TROW traded down $1.49 during trading hours on Friday, reaching $101.47. The company had a trading volume of 1,539,992 shares, compared to its average volume of 1,544,165. The stock has a market capitalization of $22.36 billion, a P/E ratio of 11.50, a price-to-earnings-growth ratio of 3.25 and a beta of 1.49. The stock has a 50-day moving average of $95.24 and a 200 day moving average of $99.44. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.80 billion. T. Rowe Price Group had a net margin of 28.38% and a return on equity of 20.17%. The firm's quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the company posted $2.38 EPS. As a group, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared 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 5.01%. T. Rowe Price Group's dividend payout ratio is presently 57.60%.

About T. Rowe Price Group

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.