T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Pine Haven Investment Counsel Inc

Pine Haven Investment Counsel Inc decreased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,307 shares of the asset manager’s stock after selling 325 shares during the period. Pine Haven Investment Counsel Inc’s holdings in T. Rowe Price Group were worth $763,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Addison Advisors LLC grew its holdings in T. Rowe Price Group by 67.4% in the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 93 shares during the last quarter. Curio Wealth LLC purchased a new stake in shares of T. Rowe Price Group in the 4th quarter worth about $27,000. Y.D. More Investments Ltd boosted its position in shares of T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after buying an additional 155 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in T. Rowe Price Group in the 4th quarter valued at about $32,000. Finally, Advantage Trust Co increased its holdings in T. Rowe Price Group by 48.8% during the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insiders Place Their Bets

In related news, Director Robert F. Maclellan sold 3,955 shares of the 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 owns 42,979 shares of the company’s stock, valued at approximately $3,935,157.24. This represents a 8.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 968 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the transaction, the insider now owns 13,611 shares in the company, valued at $1,319,994.78. The trade was a 6.64% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of T. Rowe Price Group from $110.00 to $90.00 and set an “underweight” rating on the stock in a report on Wednesday, April 16th. Cowen reaffirmed a “hold” rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. Morgan Stanley increased their target price on T. Rowe Price Group from $94.00 to $95.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. TD Cowen cut their price target on T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. Finally, Bank of America reduced their price objective on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a research report on Thursday, April 3rd. Four analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and an average price target of $94.09.

T. Rowe Price Group Stock Up 1.1%

Shares of NASDAQ:TROW opened at $94.28 on Friday. The company has a market cap of $20.77 billion, a P/E ratio of 10.29, a P/E/G ratio of 2.86 and a beta of 1.49. The business has a fifty day simple moving average of $90.71 and a 200-day simple moving average of $103.49. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, beating the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the business earned $2.38 EPS. The firm’s revenue was up .8% on a year-over-year basis. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 5.39%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is 57.60%.

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.