North Star Asset Management Inc. Sells 11,378 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

North Star Asset Management Inc. cut its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 6.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 174,445 shares of the asset manager's stock after selling 11,378 shares during the period. North Star Asset Management Inc. owned 0.08% of T. Rowe Price Group worth $16,026,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Seizert Capital Partners LLC raised its holdings in T. Rowe Price Group by 5.3% during the 1st quarter. Seizert Capital Partners LLC now owns 135,691 shares of the asset manager's stock worth $12,466,000 after buying an additional 6,807 shares during the period. Arkadios Wealth Advisors acquired a new stake in shares of T. Rowe Price Group in the first quarter valued at approximately $933,000. XTX Topco Ltd bought a new position in shares of T. Rowe Price Group in the first quarter valued at $258,000. Banque Cantonale Vaudoise bought a new position in shares of T. Rowe Price Group in the first quarter valued at $1,230,000. Finally, Federated Hermes Inc. grew its stake in shares of T. Rowe Price Group by 6.7% in the first quarter. Federated Hermes Inc. now owns 2,112 shares of the asset manager's stock valued at $194,000 after buying an additional 133 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

Wall Street Analysts Forecast Growth

TROW has been the subject of a number of research analyst reports. The Goldman Sachs Group reduced their price objective on shares of 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. JPMorgan Chase & Co. boosted their price target on T. Rowe Price Group from $90.00 to $98.00 and gave the company an "underweight" rating in a research note on Wednesday, July 16th. Barclays boosted their price target on T. Rowe Price Group from $90.00 to $91.00 and gave the company an "underweight" rating in a research note on Wednesday, July 16th. Morgan Stanley boosted their target price 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. Finally, Citigroup reduced their price target on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Four equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $96.64.

Insiders Place Their Bets

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the 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 transaction, the vice president directly owned 44,789 shares in the company, valued at $4,274,214.27. This trade represents a 4.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the transaction, the insider owned 13,611 shares in the company, valued at approximately $1,319,994.78. This represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Trading Down 2.4%

TROW stock traded down $2.45 during trading on Thursday, hitting $101.45. The company had a trading volume of 3,974,037 shares, compared to its average volume of 1,563,114. The stock has a market cap of $22.35 billion, a PE ratio of 11.50, a PEG ratio of 3.06 and a beta of 1.49. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The business has a 50-day moving average of $98.04 and a 200-day moving average of $98.54.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.13 by $0.10. The firm 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 company'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 earned $2.38 EPS. Research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date was Friday, June 13th. T. Rowe Price Group's dividend payout ratio (DPR) is currently 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.