Daymark Wealth Partners LLC Sells 981 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Daymark Wealth Partners LLC lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 12.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,652 shares of the asset manager’s stock after selling 981 shares during the quarter. Daymark Wealth Partners LLC’s holdings in T. Rowe Price Group were worth $752,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TROW. Iron Horse Wealth Management LLC increased its stake in shares of T. Rowe Price Group by 90.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 110 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in T. Rowe Price Group by 54.7% during the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 104 shares during the period. True Wealth Design LLC bought a new stake in T. Rowe Price Group in the third quarter valued at approximately $37,000. Larson Financial Group LLC raised its holdings in T. Rowe Price Group by 866.7% in the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after purchasing an additional 312 shares during the period. Finally, Brooklyn Investment Group bought a new position in shares of T. Rowe Price Group during the third quarter worth $43,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Down 0.1 %

Shares of T. Rowe Price Group stock opened at $113.38 on Friday. The business’s 50 day moving average is $117.44 and its 200-day moving average is $112.80. T. Rowe Price Group, Inc. has a 12-month low of $100.49 and a 12-month high of $125.81. The stock has a market cap of $25.19 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.68 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.21. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. T. Rowe Price Group’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the business posted $2.17 EPS. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.45 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a dividend of $1.24 per share. The ex-dividend date was Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.37%. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.27%.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TROW has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. dropped their price target on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Evercore ISI boosted their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Finally, Keefe, Bruyette & Woods cut their price target on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $115.82.

About T. Rowe Price Group

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.