Farther Finance Advisors LLC Sells 242 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Farther Finance Advisors LLC trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,522 shares of the asset manager’s stock after selling 242 shares during the quarter. Farther Finance Advisors LLC’s holdings in T. Rowe Price Group were worth $511,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of TROW. Atria Investments Inc boosted its stake in T. Rowe Price Group by 7.0% during the third quarter. Atria Investments Inc now owns 6,103 shares of the asset manager’s stock worth $665,000 after buying an additional 400 shares during the period. Metis Global Partners LLC boosted its stake in T. Rowe Price Group by 2.7% during the third quarter. Metis Global Partners LLC now owns 12,805 shares of the asset manager’s stock worth $1,395,000 after buying an additional 338 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its stake in T. Rowe Price Group by 6.0% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,814 shares of the asset manager’s stock worth $633,000 after buying an additional 327 shares during the period. CIBC Asset Management Inc boosted its stake in T. Rowe Price Group by 6.8% during the third quarter. CIBC Asset Management Inc now owns 38,064 shares of the asset manager’s stock worth $4,146,000 after buying an additional 2,423 shares during the period. Finally, Empirical Finance LLC boosted its stake in T. Rowe Price Group by 2.1% during the third quarter. Empirical Finance LLC now owns 7,780 shares of the asset manager’s stock worth $847,000 after buying an additional 159 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $93.04 on Monday. T. Rowe Price Group, Inc. has a 1-year low of $91.37 and a 1-year high of $125.81. The company has a 50-day moving average of $108.27 and a 200 day moving average of $111.64. The firm has a market cap of $20.71 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last announced its 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 return on equity of 20.83% and a net margin of 29.61%. During the same quarter in the prior year, the company earned $1.72 earnings per share. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

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

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction dated 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 approximately $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.00% of the stock is currently owned by corporate insiders.

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.