Voloridge Investment Management LLC Sells 237,095 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Voloridge Investment Management LLC lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 54.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 200,084 shares of the asset manager's stock after selling 237,095 shares during the period. Voloridge Investment Management LLC owned about 0.09% of T. Rowe Price Group worth $22,628,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TROW. Addison Advisors LLC lifted its position in shares of T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock worth $26,000 after acquiring an additional 93 shares during the period. Curio Wealth LLC acquired a new position in T. Rowe Price Group in the fourth quarter valued at about $27,000. Y.D. More Investments Ltd grew its stake in T. Rowe Price Group by 124.0% in the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock valued at $32,000 after acquiring an additional 155 shares during the period. Stonebridge Financial Group LLC acquired a new position in shares of T. Rowe Price Group during the fourth quarter worth about $32,000. Finally, Advantage Trust Co boosted its position 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 buying an additional 100 shares during the period. Institutional investors and hedge funds own 73.39% of the company's stock.

Insiders Place Their Bets

In other news, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group 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 completion of the transaction, the director now directly owns 42,979 shares of the company's stock, valued at approximately $3,935,157.24. This trade represents a 8.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group 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 transaction, the insider now directly owns 13,611 shares of the company's stock, 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. Company insiders own 2.00% of the company's stock.

T. Rowe Price Group Price Performance

TROW stock traded down $0.85 during midday trading on Wednesday, reaching $94.72. 219,589 shares of the stock were exchanged, compared to its average volume of 1,488,360. The stock has a market capitalization of $20.87 billion, a PE ratio of 10.35, a P/E/G ratio of 2.86 and a beta of 1.50. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The company has a fifty day moving average price of $90.71 and a 200 day moving average price of $104.77.

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 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 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.38 EPS. As a group, analysts anticipate 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 announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 5.36%. The ex-dividend date is Friday, June 13th. T. Rowe Price Group's payout ratio is presently 57.60%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TROW. The Goldman Sachs Group reduced their price objective on 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. Bank of America reduced their price objective on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a research report on Thursday, April 3rd. TD Cowen reduced their price objective on 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. Wells Fargo & Company reduced their price objective on T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Finally, Citigroup dropped their target price 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 given a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $94.09.

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.