RPG Investment Advisory LLC Trims Holdings in T. Rowe Price Group Inc (TROW)

RPG Investment Advisory LLC decreased its position in T. Rowe Price Group Inc (NASDAQ:TROW) by 2.7% during the first quarter, Holdings Channel reports. The fund owned 67,315 shares of the asset manager’s stock after selling 1,842 shares during the quarter. T. Rowe Price Group comprises 1.6% of RPG Investment Advisory LLC’s investment portfolio, making the stock its 17th biggest position. RPG Investment Advisory LLC’s holdings in T. Rowe Price Group were worth $6,740,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in T. Rowe Price Group by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 21,212,245 shares of the asset manager’s stock worth $2,315,952,000 after acquiring an additional 457,683 shares during the last quarter. Vanguard Group Inc increased its stake in T. Rowe Price Group by 2.2% in the 3rd quarter. Vanguard Group Inc now owns 21,212,245 shares of the asset manager’s stock worth $2,315,952,000 after acquiring an additional 457,683 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in T. Rowe Price Group by 5,160.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,804,712 shares of the asset manager’s stock worth $63,000 after acquiring an additional 5,694,370 shares during the last quarter. Geode Capital Management LLC increased its stake in T. Rowe Price Group by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,439,749 shares of the asset manager’s stock worth $317,047,000 after acquiring an additional 76,186 shares during the last quarter. Finally, Northern Trust Corp increased its stake in T. Rowe Price Group by 3.1% in the 4th quarter. Northern Trust Corp now owns 2,861,801 shares of the asset manager’s stock worth $264,201,000 after acquiring an additional 86,061 shares during the last quarter. 72.65% of the stock is currently owned by institutional investors and hedge funds.

In related news, VP Christopher D. Alderson sold 104,465 shares of the business’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $96.94, for a total transaction of $10,126,837.10. Following the completion of the transaction, the vice president now owns 401,164 shares in the company, valued at approximately $38,888,838.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP W. Sharps Robert sold 2,617 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $100.73, for a total value of $263,610.41. Following the transaction, the vice president now owns 448,651 shares of the company’s stock, valued at approximately $45,192,615.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,082 shares of company stock valued at $11,361,948. 3.10% of the stock is owned by company insiders.

Shares of NASDAQ TROW traded down $0.95 during trading hours on Monday, hitting $104.95. 635,944 shares of the company traded hands, compared to its average volume of 1,404,693. The company has a market cap of $24.79 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.79 and a beta of 1.04. T. Rowe Price Group Inc has a 12 month low of $84.59 and a 12 month high of $127.43.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, January 30th. The asset manager reported $1.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by ($0.25). The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.33 billion. T. Rowe Price Group had a net margin of 33.95% and a return on equity of 29.16%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.52 EPS. On average, research analysts expect that T. Rowe Price Group Inc will post 6.73 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.76 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.04 annualized dividend and a dividend yield of 2.90%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $0.70. T. Rowe Price Group’s payout ratio is currently 42.52%.

TROW has been the topic of a number of research reports. Goldman Sachs Group downgraded T. Rowe Price Group from a “buy” rating to a “neutral” rating and set a $93.00 price objective on the stock. in a research note on Friday, January 4th. Morgan Stanley set a $101.00 price objective on T. Rowe Price Group and gave the stock a “hold” rating in a research note on Friday, February 8th. Citigroup cut their target price on T. Rowe Price Group from $105.00 to $101.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 19th. BidaskClub raised T. Rowe Price Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 16th. Finally, Zacks Investment Research downgraded T. Rowe Price Group from a “hold” rating to a “sell” rating in a research report on Thursday, January 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $106.17.

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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.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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