Vest Financial LLC Cuts Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Vest Financial LLC trimmed its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 7.3% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 469,969 shares of the asset manager's stock after selling 36,768 shares during the period. Vest Financial LLC owned about 0.21% of T. Rowe Price Group worth $43,176,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Addison Advisors LLC raised its stake in 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 buying an additional 93 shares during the period. Curio Wealth LLC bought a new position in T. Rowe Price Group during the fourth quarter worth about $27,000. Y.D. More Investments Ltd grew its holdings in T. Rowe Price Group by 124.0% during the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock worth $32,000 after purchasing an additional 155 shares during the period. Stonebridge Financial Group LLC bought a new position in T. Rowe Price Group during the fourth quarter worth about $32,000. Finally, Advantage Trust Co boosted its holdings in shares of T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock worth $34,000 after acquiring an additional 100 shares during the period. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Price Performance

Shares of TROW stock traded up $1.04 during trading hours on Friday, hitting $94.28. The stock had a trading volume of 1,295,996 shares, compared to its average volume of 1,502,718. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The stock's 50-day moving average price is $90.67 and its two-hundred day moving average price is $103.65. The stock has a market capitalization of $20.77 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 2.86 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.13 by $0.10. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.80 billion. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. T. Rowe Price Group's quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.38 earnings per share. As a group, 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 5.39%. The ex-dividend date is Friday, June 13th. T. Rowe Price Group's dividend payout ratio is currently 57.60%.

Analysts Set New Price Targets

TROW has been the subject of a number of analyst reports. TD Cowen dropped their price target on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Bank of America decreased their price target on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a report on Thursday, April 3rd. Cowen reiterated a "hold" rating on shares of T. Rowe Price Group in a report on Monday, May 5th. JPMorgan Chase & Co. cut their price objective on shares of T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Morgan Stanley raised their price target on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Four analysts have rated the stock with a sell rating and nine have given a hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $94.09.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction on Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the transaction, the director now directly owns 42,979 shares in the company, valued at approximately $3,935,157.24. The trade was a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of the business's 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 transaction, the insider now 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 disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

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.