Bartlett & CO. Wealth Management LLC Cuts Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Bartlett & CO. Wealth Management LLC decreased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,424 shares of the asset manager’s stock after selling 100 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in T. Rowe Price Group were worth $387,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in T. Rowe Price Group by 2.8% in the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock worth $30,062,000 after buying an additional 7,503 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of T. Rowe Price Group by 3.8% in the 3rd quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock worth $3,267,000 after acquiring an additional 1,100 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of T. Rowe Price Group in the 2nd quarter valued at $15,907,000. Aigen Investment Management LP bought a new position in shares of T. Rowe Price Group during the 3rd quarter valued at $516,000. Finally, Charles Schwab Investment Management Inc. raised its position in T. Rowe Price Group by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after purchasing an additional 231,286 shares during the period. Institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Morgan Stanley raised their price objective on T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Evercore ISI raised their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods lowered their price objective on T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. TD Cowen cut their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Finally, The Goldman Sachs Group lowered their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a report on Thursday, October 3rd. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $115.82.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the transaction, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Up 0.7 %

Shares of TROW opened at $114.21 on Friday. T. Rowe Price Group, Inc. has a 1-year low of $100.49 and a 1-year high of $125.81. The firm’s 50-day moving average price is $117.31 and its 200-day moving average price is $112.81. The firm has a market capitalization of $25.37 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.68 and a beta of 1.43.

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

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a $1.24 dividend. The ex-dividend date was Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.34%. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.27%.

T. Rowe Price Group Company 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.