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

Altus Wealth Group LLC lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,386 shares of the asset manager’s stock after selling 192 shares during the quarter. Altus Wealth Group LLC’s holdings in T. Rowe Price Group were worth $609,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in TROW. Glenview Trust co grew its holdings in T. Rowe Price Group by 2.2% in the 4th quarter. Glenview Trust co now owns 4,318 shares of the asset manager’s stock valued at $488,000 after buying an additional 92 shares during the period. Choate Investment Advisors acquired a new stake in shares of T. Rowe Price Group in the fourth quarter worth approximately $289,000. Natixis Advisors LLC grew its holdings in T. Rowe Price Group by 1.8% in the fourth quarter. Natixis Advisors LLC now owns 47,720 shares of the asset manager’s stock valued at $5,397,000 after purchasing an additional 845 shares during the period. Van Strum & Towne Inc. acquired a new position in T. Rowe Price Group during the fourth quarter worth approximately $252,000. Finally, Catalyst Funds Management Pty Ltd purchased a new position in T. Rowe Price Group during the fourth quarter worth approximately $204,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the sale, the vice president now directly owns 36,800 shares of the company’s stock, valued at $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $93.04 on Friday. The company’s fifty day moving average price is $108.27 and its two-hundred day moving average price is $111.62. The firm has a market capitalization of $20.71 billion, a P/E ratio of 10.16, a P/E/G ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 12 month low of $91.37 and a 12 month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same period in the previous year, the company posted $1.72 earnings per share. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.46%. The ex-dividend date is Friday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s payout ratio is 55.46%.

Analyst Ratings Changes

Several brokerages recently weighed in on TROW. Barclays cut their target price on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Morgan Stanley cut their price target on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Finally, Wells Fargo & Company cut their target price on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, T. Rowe Price Group has an average rating of “Hold” and an average price target of $114.09.

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.