Telos Capital Management Inc. Sells 12,569 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Telos Capital Management Inc. reduced its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 13.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,108 shares of the asset manager's stock after selling 12,569 shares during the period. Telos Capital Management Inc.'s holdings in T. Rowe Price Group were worth $7,543,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Curio Wealth LLC bought a new stake in shares of T. Rowe Price Group in the fourth quarter worth $27,000. Ameriflex Group Inc. acquired a new stake in shares of T. Rowe Price Group in the 4th quarter valued at about $42,000. Hexagon Capital Partners LLC increased its holdings in shares of T. Rowe Price Group by 44.8% during the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock valued at $34,000 after acquiring an additional 113 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in T. Rowe Price Group during the first quarter worth $39,000. Finally, Chilton Capital Management LLC bought a new position in T. Rowe Price Group in the 1st quarter valued at about $41,000. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Trading Down 1.4%

Shares of NASDAQ TROW traded down $1.49 during midday trading on Friday, hitting $101.47. The company's stock had a trading volume of 1,539,992 shares, compared to its average volume of 1,549,979. The firm has a market capitalization of $22.36 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 3.26 and a beta of 1.49. The stock has a fifty day moving average price of $95.44 and a 200 day moving average price of $99.33. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings data 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 business 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 firm's quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.38 EPS. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a dividend of $1.27 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a yield of 5.01%. T. Rowe Price Group's dividend payout ratio (DPR) is 57.60%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TROW shares. JPMorgan Chase & Co. decreased their price target on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. TD Cowen decreased their price objective on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Barclays boosted 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. Cowen reaffirmed a "hold" rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Finally, Evercore ISI cut their price target on shares of 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. Four analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of "Hold" and a consensus target price of $95.82.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 968 shares of the company'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 transaction, the insider directly owned 13,611 shares in the company, valued at $1,319,994.78. This represents a 6.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the transaction, the vice president owned 44,789 shares in the company, valued at $4,274,214.27. This trade represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

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.