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

Verdence Capital Advisors LLC lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 41.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 14,999 shares of the asset manager’s stock after selling 10,652 shares during the period. Verdence Capital Advisors LLC’s holdings in T. Rowe Price Group were worth $1,378,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Avantax Advisory Services Inc. grew its position in T. Rowe Price Group by 15.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 5,083 shares of the asset manager’s stock worth $575,000 after buying an additional 669 shares during the period. Natixis Advisors LLC lifted its stake in shares of T. Rowe Price Group by 1.8% during the fourth quarter. Natixis Advisors LLC now owns 47,720 shares of the asset manager’s stock valued at $5,397,000 after buying an additional 845 shares during the period. Horizon Investments LLC lifted its stake in shares of T. Rowe Price Group by 104.0% during the fourth quarter. Horizon Investments LLC now owns 6,160 shares of the asset manager’s stock valued at $697,000 after buying an additional 3,141 shares during the period. Generali Asset Management SPA SGR purchased a new position in shares of T. Rowe Price Group during the fourth quarter valued at approximately $3,273,000. Finally, Xponance Inc. lifted its stake in shares of T. Rowe Price Group by 0.9% during the fourth quarter. Xponance Inc. now owns 31,837 shares of the asset manager’s stock valued at $3,600,000 after buying an additional 277 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $106.41 on Friday. The firm’s 50-day moving average is $96.37 and its 200-day moving average is $98.97. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The company has a market cap of $23.44 billion, a P/E ratio of 12.06, a PEG ratio of 3.09 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, beating 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 net margin of 28.38% and a return on equity of 20.17%. T. Rowe Price Group’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the firm posted $2.38 EPS. As a group, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a $1.27 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $5.08 annualized dividend and a dividend yield of 4.77%. T. Rowe Price Group’s dividend payout ratio is currently 57.60%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TROW shares. Cowen reaffirmed a “hold” rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Barclays upped their price target on shares of T. Rowe Price Group from $90.00 to $91.00 and gave the stock an “underweight” rating in a research report on Wednesday. Bank of America dropped their price objective on shares of T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating for the company in a research report on Thursday, April 3rd. TD Cowen dropped their price objective on shares of T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, April 9th. Finally, Evercore ISI dropped their price objective on shares of T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating for the company in a research report on Friday, April 11th. Four investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $96.64.

Insider Activity at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total transaction of $190,860.00. Following the transaction, the vice president directly owned 44,789 shares of the company’s stock, valued at approximately $4,274,214.27. The trade was a 4.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 968 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the sale, the insider directly owned 13,611 shares of the company’s stock, 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. Insiders own 2.00% of the company’s stock.

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.