Telos Capital Management Inc. Trims Stock Position in T. Rowe Price Group, Inc. $TROW

Telos Capital Management Inc. lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 67.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 21,069 shares of the asset manager’s stock after selling 43,064 shares during the period. Telos Capital Management Inc.’s holdings in T. Rowe Price Group were worth $1,899,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of TROW. MTM Investment Management LLC raised its position in T. Rowe Price Group by 3.5% during the fourth quarter. MTM Investment Management LLC now owns 3,167 shares of the asset manager’s stock valued at $324,000 after acquiring an additional 107 shares in the last quarter. GenTrust LLC increased its holdings in shares of T. Rowe Price Group by 5.5% during the 4th quarter. GenTrust LLC now owns 2,114 shares of the asset manager’s stock valued at $216,000 after purchasing an additional 110 shares in the last quarter. Fiduciary Trust Co increased its holdings in shares of T. Rowe Price Group by 4.5% during the 3rd quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager’s stock valued at $265,000 after purchasing an additional 111 shares in the last quarter. 1834 Investment Advisors Co. lifted its stake in shares of T. Rowe Price Group by 0.3% in the 4th quarter. 1834 Investment Advisors Co. now owns 37,490 shares of the asset manager’s stock valued at $3,838,000 after purchasing an additional 115 shares during the period. Finally, Allworth Financial LP lifted its stake in shares of T. Rowe Price Group by 2.1% in the 4th quarter. Allworth Financial LP now owns 5,541 shares of the asset manager’s stock valued at $567,000 after purchasing an additional 115 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TROW. JPMorgan Chase & Co. decreased their price objective on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a research report on Friday, April 24th. Zacks Research upgraded T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 13th. Keefe, Bruyette & Woods upped their price target on T. Rowe Price Group from $95.00 to $107.00 and gave the stock a “market perform” rating in a report on Friday, May 1st. BMO Capital Markets increased their price target on T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a research report on Monday, May 4th. Finally, Morgan Stanley set a $105.00 price objective on T. Rowe Price Group in a report on Monday, April 27th. Eleven research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $100.08.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the transaction, the vice president directly owned 83,883 shares in the company, valued at $8,603,040.48. The trade was a 3.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.60% of the stock is owned by company insiders.

T. Rowe Price Group Trading Up 0.3%

TROW opened at $107.99 on Tuesday. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $118.22. The firm has a market capitalization of $23.14 billion, a PE ratio of 11.57, a PEG ratio of 5.51 and a beta of 1.50. The firm’s 50-day moving average price is $102.94 and its 200 day moving average price is $99.88.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the company posted $2.23 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, analysts predict that T. Rowe Price Group, Inc. will post 9.63 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.8%. The ex-dividend date is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.73%.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.