Davis R M Inc. Sells 6,750 Shares of T. Rowe Price Group, Inc. $TROW

Davis R M Inc. lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 50.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,590 shares of the asset manager’s stock after selling 6,750 shares during the period. Davis R M Inc.’s holdings in T. Rowe Price Group were worth $594,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TROW. TD Private Client Wealth LLC boosted its position in T. Rowe Price Group by 91.8% in the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after purchasing an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of T. Rowe Price Group by 540.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 238 shares during the last quarter. Canton Hathaway LLC bought a new position in shares of T. Rowe Price Group in the 4th quarter worth approximately $31,000. Sound Income Strategies LLC boosted its holdings in shares of T. Rowe Price Group by 170.3% in the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after buying an additional 189 shares during the last quarter. Finally, DV Equities LLC purchased a new position in shares of T. Rowe Price Group in the fourth quarter worth approximately $32,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on TROW shares. Barclays upped their target price on shares of T. Rowe Price Group from $89.00 to $108.00 and gave the company an “underweight” rating in a report on Tuesday, July 14th. Morgan Stanley increased their price target on T. Rowe Price Group from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Friday, June 26th. Zacks Research raised T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. Jefferies Financial Group dropped their price target on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a research note on Wednesday, April 8th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of T. Rowe Price Group from $107.00 to $120.00 and gave the company a “market perform” rating in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $104.50.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the transaction, the vice president directly owned 83,883 shares of the company’s stock, valued at $8,603,040.48. The trade was a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Trading Down 0.9%

Shares of NASDAQ TROW opened at $114.95 on Friday. The firm’s 50-day moving average price is $109.89 and its 200-day moving average price is $101.67. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $121.17. The stock has a market capitalization of $24.63 billion, a price-to-earnings ratio of 12.32, a P/E/G ratio of 4.16 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.15. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.23 earnings per share. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 10.12 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.5%. The ex-dividend date was Monday, June 15th. T. Rowe Price Group’s dividend payout ratio is presently 55.73%.

T. Rowe Price Group Profile

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.