Carderock Capital Management Inc. Has $818,000 Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Carderock Capital Management Inc. cut its stake in T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,600 shares of the asset manager’s stock after selling 250 shares during the period. Carderock Capital Management Inc.’s holdings in T. Rowe Price Group were worth $818,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of TROW. Union Savings Bank acquired a new stake in T. Rowe Price Group in the 2nd quarter valued at about $25,000. OFI Invest Asset Management acquired a new stake in T. Rowe Price Group in the 3rd quarter valued at about $25,000. Creative Financial Designs Inc. ADV lifted its stake in T. Rowe Price Group by 83.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 106 shares during the last quarter. PCA Investment Advisory Services Inc. acquired a new stake in T. Rowe Price Group in the 2nd quarter valued at about $26,000. Finally, Fortitude Family Office LLC acquired a new stake in T. Rowe Price Group in the 4th quarter valued at about $33,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TROW shares. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Morgan Stanley increased their price target on shares of T. Rowe Price Group from $101.00 to $106.00 and gave the company an “equal weight” rating in a report on Friday, January 19th. JPMorgan Chase & Co. increased their price target on shares of T. Rowe Price Group from $90.00 to $94.00 and gave the company an “underweight” rating in a report on Friday, February 9th. UBS Group increased their price target on shares of T. Rowe Price Group from $86.00 to $102.00 and gave the company a “sell” rating in a report on Wednesday, January 10th. Finally, Wells Fargo & Company increased their price target on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, February 9th. Six equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $97.30.

Read Our Latest Analysis on TROW

T. Rowe Price Group Trading Down 0.1 %

NASDAQ TROW opened at $118.49 on Thursday. The firm has a market capitalization of $26.50 billion, a price-to-earnings ratio of 15.27, a P/E/G ratio of 2.35 and a beta of 1.40. The firm’s 50 day simple moving average is $113.35 and its 200 day simple moving average is $105.94. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $132.76.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last posted its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.12. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $1.74 EPS. On average, equities research analysts forecast that T. Rowe Price Group, Inc. will post 7.79 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $1.24 dividend. The ex-dividend date was Thursday, March 14th. This represents a $4.96 dividend on an annualized basis and a yield of 4.19%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 63.92%.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the sale, the insider now owns 14,113 shares in the company, valued at $1,511,925.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group 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 transaction, the director now owns 21,073 shares in the company, valued at $2,493,357.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now owns 14,113 shares in the company, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Company 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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