Private Advisor Group LLC Sells 2,669 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Private Advisor Group LLC cut its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 22.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,391 shares of the asset manager’s stock after selling 2,669 shares during the period. Private Advisor Group LLC’s holdings in T. Rowe Price Group were worth $1,062,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of TROW. Caisse DE Depot ET Placement DU Quebec boosted its stake in T. Rowe Price Group by 382.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock valued at $43,373,000 after acquiring an additional 315,581 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in T. Rowe Price Group by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock valued at $745,169,000 after purchasing an additional 231,286 shares in the last quarter. Provident Trust Co. grew its stake in T. Rowe Price Group by 8.9% in the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock worth $295,311,000 after buying an additional 213,566 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of T. Rowe Price Group by 45.1% in the 3rd quarter. Franklin Resources Inc. now owns 490,155 shares of the asset manager’s stock worth $53,760,000 after buying an additional 152,430 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC purchased a new stake in shares of T. Rowe Price Group during the 3rd quarter valued at $13,559,000. Institutional investors own 73.39% of the company’s stock.

Insider Activity

In other news, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the sale, the vice president now directly owns 36,800 shares of the company’s stock, valued at $4,021,136. This represents a 10.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. TD Cowen cut their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Morgan Stanley reduced their price objective on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. Deutsche Bank Aktiengesellschaft boosted their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Wells Fargo & Company reduced their price target on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Finally, Barclays lowered their price objective on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $114.09.

T. Rowe Price Group Trading Up 1.9 %

T. Rowe Price Group stock opened at $105.72 on Friday. The firm has a market cap of $23.54 billion, a P/E ratio of 11.54, a P/E/G ratio of 2.86 and a beta of 1.44. T. Rowe Price Group, Inc. has a 1-year low of $100.49 and a 1-year high of $125.81. The firm has a 50-day moving average of $111.75 and a 200-day moving average of $112.33.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period in the prior year, the business earned $1.72 earnings per share. Research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 4.81%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.46%.

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.