Brown Advisory Inc. Cuts Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Brown Advisory Inc. lowered its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,538,808 shares of the asset manager's stock after selling 15,636 shares during the period. Brown Advisory Inc. owned about 0.69% of T. Rowe Price Group worth $174,024,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Addison Advisors LLC grew its stake in shares of T. Rowe Price Group by 67.4% in the fourth 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 last quarter. Curio Wealth LLC bought a new position in shares of T. Rowe Price Group during the fourth quarter valued at approximately $27,000. Y.D. More Investments Ltd lifted 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 worth $32,000 after acquiring an additional 155 shares during the period. Stonebridge Financial Group LLC purchased a new position in T. Rowe Price Group during the 4th quarter valued at $32,000. Finally, Advantage Trust Co increased its position 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 period. Institutional investors own 73.39% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Morgan Stanley increased their target price on T. Rowe Price Group from $94.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Wells Fargo & Company dropped their price target on T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Evercore ISI decreased their price objective on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a report on Friday, April 11th. Finally, StockNews.com cut shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Sunday, February 2nd. Four equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $94.09.

T. Rowe Price Group Stock Down 1.4 %

T. Rowe Price Group stock traded down $1.27 during trading hours on Tuesday, hitting $90.16. The stock had a trading volume of 1,974,216 shares, compared to its average volume of 1,475,987. The stock's 50-day moving average price is $91.27 and its 200-day moving average price is $106.67. The stock has a market capitalization of $20.04 billion, a P/E ratio of 9.84, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted 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 return on equity of 20.83% and a net margin of 29.61%. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the company earned $2.38 EPS. The company's quarterly revenue was up .8% compared to the same quarter last year. On average, research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $1.27 dividend. The ex-dividend date was Friday, March 14th. This represents a $5.08 annualized dividend and a yield of 5.63%. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.24. T. Rowe Price Group's dividend payout ratio (DPR) is currently 57.60%.

Insider Activity

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the firm'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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Arif Husain sold 4,112 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the transaction, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

T. Rowe Price Group 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.