Voya Investment Management LLC Sells 3,390 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Voya Investment Management LLC reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,828 shares of the asset manager’s stock after selling 3,390 shares during the quarter. Voya Investment Management LLC’s holdings in T. Rowe Price Group were worth $7,558,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Barclays PLC lifted its holdings in T. Rowe Price Group by 13.6% in the third quarter. Barclays PLC now owns 822,869 shares of the asset manager’s stock valued at $89,635,000 after buying an additional 98,448 shares during the period. Tudor Financial Inc. acquired a new position in T. Rowe Price Group in the third quarter valued at approximately $668,000. World Investment Advisors LLC acquired a new position in T. Rowe Price Group in the third quarter valued at approximately $273,000. Wilmington Savings Fund Society FSB lifted its holdings in T. Rowe Price Group by 191.1% in the third quarter. Wilmington Savings Fund Society FSB now owns 11,404 shares of the asset manager’s stock valued at $1,242,000 after buying an additional 7,486 shares during the period. Finally, Tidal Investments LLC lifted its holdings in T. Rowe Price Group by 8.5% in the third quarter. Tidal Investments LLC now owns 6,541 shares of the asset manager’s stock valued at $713,000 after buying an additional 513 shares during the period. 73.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TROW shares. The Goldman Sachs Group cut their price objective on shares of T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a report on Monday, April 14th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Barclays cut their target price on shares of T. Rowe Price Group from $105.00 to $85.00 and set an “underweight” rating on the stock in a report on Wednesday, April 16th. Finally, TD Cowen cut their target price on shares of T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, April 9th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group has a consensus rating of “Hold” and a consensus target price of $96.00.

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 that occurred on Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the sale, the director now directly owns 42,979 shares in the company, valued at $3,935,157.24. This trade represents a 8.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the transaction, the vice president now directly owns 36,800 shares in the company, valued at $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 Trading Up 0.1 %

NASDAQ TROW opened at $88.86 on Wednesday. The company has a market cap of $19.75 billion, a PE ratio of 9.70, a PEG 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. The stock has a 50 day moving average of $92.83 and a 200-day moving average of $107.43.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data 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 quarter in the prior year, the company posted $1.72 earnings per share. As a group, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $1.27 dividend. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Friday, March 14th. This represents a $5.08 annualized dividend and a yield of 5.72%. T. Rowe Price Group’s dividend payout ratio is currently 55.46%.

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.