Janney Montgomery Scott LLC cut its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 9.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 163,529 shares of the asset manager's stock after selling 16,857 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.07% of T. Rowe Price Group worth $17,610,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Clear Harbor Asset Management LLC boosted its position in T. Rowe Price Group by 3.2% during the 4th quarter. Clear Harbor Asset Management LLC now owns 3,240 shares of the asset manager's stock worth $349,000 after acquiring an additional 100 shares during the period. Caprock Group LLC grew its holdings in T. Rowe Price Group by 4.7% in the 4th quarter. Caprock Group LLC now owns 2,251 shares of the asset manager's stock valued at $242,000 after buying an additional 101 shares during the last quarter. Roundview Capital LLC grew its position in T. Rowe Price Group by 0.5% in the 3rd quarter. Roundview Capital LLC now owns 22,279 shares of the asset manager's stock worth $2,336,000 after purchasing an additional 105 shares during the last quarter. Creative Financial Designs Inc. ADV increased its position in shares of T. Rowe Price Group by 83.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager's stock valued at $25,000 after purchasing an additional 106 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich raised its position in T. Rowe Price Group by 2.6% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,451 shares of the asset manager's stock worth $467,000 after purchasing an additional 114 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have issued reports on TROW shares. TD Cowen raised T. Rowe Price Group from a "sell" rating to a "hold" rating and upped their price objective for the stock from $92.00 to $114.00 in a report on Monday, April 8th. Wells Fargo & Company increased their target price on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the stock an "underweight" rating in a report on Friday, February 9th. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an "underperform" rating to a "market perform" rating and boosted their target price for the stock from $106.00 to $120.00 in a report on Thursday, April 11th. JPMorgan Chase & Co. lifted their target price on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an "underweight" rating in a research note on Tuesday, April 16th. Finally, StockNews.com downgraded shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Friday, February 9th. Four analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $112.10.
Check Out Our Latest Analysis on T. Rowe Price Group
T. Rowe Price Group Stock Up 0.6 %
NASDAQ:TROW traded up $0.71 during trading hours on Friday, hitting $116.76. 1,093,118 shares of the company traded hands, compared to its average volume of 1,430,540. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76. The firm's 50-day simple moving average is $114.97 and its 200-day simple moving average is $108.45. The company has a market cap of $26.07 billion, a PE ratio of 13.78, a PEG ratio of 1.99 and a beta of 1.40.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the business earned $1.69 earnings per share. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. As a group, equities research analysts expect that T. Rowe Price Group, Inc. will post 8.74 EPS for the current year.
T. Rowe Price Group Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be paid a dividend of $1.24 per share. The ex-dividend date is Friday, June 14th. This represents a $4.96 annualized dividend and a dividend yield of 4.25%. T. Rowe Price Group's payout ratio is 58.91%.
Insider Transactions at T. Rowe Price Group
In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the company's stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the transaction, the director now directly owns 21,073 shares in the company, valued at approximately $2,493,357.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the sale, the director now owns 21,073 shares of the company's stock, valued at $2,493,357.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert F. Maclellan sold 3,043 shares of the company's stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the transaction, the director now directly owns 34,635 shares of the company's stock, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.
About T. Rowe Price Group
(
Free Report)
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.
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