T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 36.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,881 shares of the asset manager's stock after selling 32,780 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in T. Rowe Price Group were worth $6,433,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Glenview Trust co lifted its stake in shares of T. Rowe Price Group by 2.2% in the 4th quarter. Glenview Trust co now owns 4,318 shares of the asset manager's stock valued at $488,000 after purchasing an additional 92 shares during the last quarter. MCF Advisors LLC lifted its holdings in shares of T. Rowe Price Group by 1.5% in the 4th quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager's stock worth $704,000 after acquiring an additional 93 shares during the last quarter. Addison Advisors LLC boosted its stake in shares of T. Rowe Price Group by 67.4% during the 4th 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. Brooklyn Investment Group boosted its stake in shares of T. Rowe Price Group by 24.6% during the 4th quarter. Brooklyn Investment Group now owns 497 shares of the asset manager's stock worth $56,000 after purchasing an additional 98 shares during the period. Finally, Advantage Trust Co grew 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 valued at $34,000 after purchasing an additional 100 shares during the last quarter. 73.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Citigroup decreased their price objective on shares of T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Evercore ISI decreased their price target on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a research note on Friday, April 11th. The Goldman Sachs Group cut their price objective on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating on the stock in a research report on Monday, April 14th. Cowen reiterated a "hold" rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Finally, StockNews.com lowered shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. Four investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $94.09.

Insider Activity

In other T. Rowe Price Group news, 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 value of $93,876.64. Following the completion of the sale, 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the business's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the sale, the director now owns 42,979 shares in the company, valued at $3,935,157.24. The trade was a 8.43% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.

T. Rowe Price Group Stock Down 0.9%

TROW stock traded down $0.87 during trading on Tuesday, hitting $97.09. 929,212 shares of the company's stock traded hands, compared to its average volume of 1,486,325. The firm has a market capitalization of $21.39 billion, a P/E ratio of 10.60, a PEG ratio of 2.86 and a beta of 1.50. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The business has a fifty day simple moving average of $90.55 and a two-hundred day simple moving average of $105.63.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its 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. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the company posted $2.38 earnings per share. The firm's revenue was up .8% on a year-over-year basis. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 5.23%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group's dividend payout ratio is currently 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.