T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Cwm LLC

Cwm LLC reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 11.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 155,090 shares of the asset manager’s stock after selling 20,742 shares during the period. Cwm LLC owned 0.07% of T. Rowe Price Group worth $16,702,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of TROW. Vanguard Group Inc. raised its holdings in T. Rowe Price Group by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 20,183,563 shares of the asset manager’s stock valued at $3,051,553,000 after acquiring an additional 625,340 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in T. Rowe Price Group by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock valued at $513,874,000 after acquiring an additional 134,839 shares during the last quarter. Morgan Stanley raised its holdings in T. Rowe Price Group by 0.7% in the 3rd quarter. Morgan Stanley now owns 3,483,350 shares of the asset manager’s stock valued at $365,299,000 after acquiring an additional 25,012 shares during the last quarter. Northern Trust Corp raised its holdings in T. Rowe Price Group by 4.1% in the 3rd quarter. Northern Trust Corp now owns 2,356,132 shares of the asset manager’s stock valued at $247,088,000 after acquiring an additional 93,829 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in T. Rowe Price Group by 2.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,271,065 shares of the asset manager’s stock valued at $238,167,000 after acquiring an additional 44,175 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TROW has been the subject of several analyst reports. Wells Fargo & Company boosted their price target on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, February 9th. JPMorgan Chase & Co. boosted their price objective on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. TD Cowen raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and boosted their price objective for the company from $92.00 to $114.00 in a research note on Monday, April 8th. Citigroup boosted their price objective on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Finally, StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Four investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $112.67.

Read Our Latest Stock Report on T. Rowe Price Group

T. Rowe Price Group Trading Up 0.0 %

Shares of T. Rowe Price Group stock opened at $108.73 on Monday. The company has a fifty day moving average price of $114.72 and a 200 day moving average price of $106.82. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $132.76. The stock has a market cap of $24.32 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 2.04 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last announced its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.12. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the company earned $1.74 EPS. The firm’s revenue was up 6.5% on a year-over-year basis. Analysts forecast that T. Rowe Price Group, Inc. will post 8.36 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $1.24 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $4.96 dividend on an annualized basis and a yield of 4.56%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s payout ratio is currently 63.92%.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the transaction, the director now owns 21,073 shares in the company, valued at approximately $2,493,357.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the transaction, the director now owns 21,073 shares in the company, valued at approximately $2,493,357.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the transaction, the insider now owns 14,113 shares in the company, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Profile

(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.

See Also

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

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