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

Focus Partners Wealth decreased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 89.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,804 shares of the asset manager’s stock after selling 99,780 shares during the quarter. Focus Partners Wealth’s holdings in T. Rowe Price Group were worth $1,473,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TROW. Addison Advisors LLC increased its holdings in shares of T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 93 shares in the last quarter. Curio Wealth LLC purchased a new stake in T. Rowe Price Group during the fourth quarter worth $27,000. Y.D. More Investments Ltd grew its holdings 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 valued at $32,000 after purchasing an additional 155 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of T. Rowe Price Group in the fourth quarter valued at $32,000. Finally, Advantage Trust Co raised its stake in shares of T. Rowe Price Group by 48.8% during the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In other 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 in the company, valued at $3,935,157.24. This trade represents a 8.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the transaction, the insider now directly owns 13,611 shares in the company, valued at $1,319,994.78. This represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

T. Rowe Price Group Stock Up 0.4%

TROW stock opened at $98.06 on Friday. The stock has a market capitalization of $21.60 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81. The stock’s fifty day simple moving average is $90.46 and its 200-day simple moving average is $105.75.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.10. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.80 billion. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.38 earnings per share. As a group, analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a $1.27 dividend. The ex-dividend date is Friday, June 13th. This represents a $5.08 annualized dividend and a dividend yield of 5.18%. T. Rowe Price Group’s dividend payout ratio is presently 57.60%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TROW shares. Evercore ISI dropped their target price on shares of 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. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. The Goldman Sachs Group reduced their target price on T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a research note on Monday, April 14th. Cowen reiterated a “hold” rating on shares of T. Rowe Price Group in a report on Monday, May 5th. Finally, Bank of America cut their price target on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating for the company in a report on Thursday, April 3rd. Four investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and an average target price of $94.09.

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.