T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Independent Advisor Alliance

Independent Advisor Alliance trimmed its position in T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 22.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,596 shares of the asset manager’s stock after selling 4,490 shares during the quarter. Independent Advisor Alliance’s holdings in T. Rowe Price Group were worth $1,680,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. L. Roy Papp & Associates LLP boosted its holdings in shares of T. Rowe Price Group by 5.8% in the 4th quarter. L. Roy Papp & Associates LLP now owns 158,875 shares of the asset manager’s stock valued at $17,109,000 after acquiring an additional 8,773 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of T. Rowe Price Group by 3.5% during the 4th quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock worth $34,299,000 after acquiring an additional 10,680 shares in the last quarter. Vest Financial LLC grew its position in shares of T. Rowe Price Group by 48.8% during the 4th quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock valued at $30,213,000 after acquiring an additional 92,059 shares during the period. Certuity LLC purchased a new position in shares of T. Rowe Price Group in the 4th quarter valued at about $228,000. Finally, Cullen Investment Group LTD. acquired a new position in T. Rowe Price Group in the 4th quarter worth about $953,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW traded up $0.71 during midday trading on Friday, reaching $116.76. 1,093,124 shares of the company’s stock were exchanged, compared to its average volume of 1,530,038. The stock has a market cap of $26.07 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 2.02 and a beta of 1.40. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $132.76. The firm’s 50 day simple moving average is $114.95 and its two-hundred day simple moving average is $108.76.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last announced its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the business posted $1.69 earnings per share. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. Equities research analysts predict that T. Rowe Price Group, Inc. will post 8.8 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date is Friday, June 14th. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TROW. Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their target price for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. TD Cowen raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their price objective for the company from $92.00 to $114.00 in a report on Monday, April 8th. Wells Fargo & Company boosted their target price on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a research note on Friday, February 9th. Morgan Stanley raised their price target on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. Finally, UBS Group boosted their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $112.10.

Read Our Latest Research Report on TROW

Insider Activity at T. Rowe Price Group

In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the transaction, the director now owns 21,073 shares in the company, valued at $2,493,357.36. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the transaction, the director now directly owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the sale, the director now directly owns 34,635 shares in the company, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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