Oppenheimer & Co. Inc. Reduces Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Oppenheimer & Co. Inc. trimmed its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 13.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,637 shares of the asset manager’s stock after selling 5,647 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in T. Rowe Price Group were worth $3,274,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. IFP Advisors Inc raised its stake in T. Rowe Price Group by 3.2% in the 4th quarter. IFP Advisors Inc now owns 3,792 shares of the asset manager’s stock valued at $429,000 after purchasing an additional 119 shares during the last quarter. Addison Advisors LLC grew its holdings in shares of T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after buying an additional 93 shares in the last quarter. Amalgamated Bank raised its position in shares of T. Rowe Price Group by 0.9% in the fourth quarter. Amalgamated Bank now owns 44,661 shares of the asset manager’s stock valued at $5,051,000 after buying an additional 391 shares during the last quarter. Checchi Capital Advisers LLC raised its position in shares of T. Rowe Price Group by 11.1% in the fourth quarter. Checchi Capital Advisers LLC now owns 2,419 shares of the asset manager’s stock valued at $274,000 after buying an additional 241 shares during the last quarter. Finally, Simmons Bank lifted its stake in shares of T. Rowe Price Group by 12.0% during the fourth quarter. Simmons Bank now owns 9,713 shares of the asset manager’s stock valued at $1,098,000 after buying an additional 1,041 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on TROW. Morgan Stanley lifted their target price on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 6th. Cowen reaffirmed a “hold” rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. TD Cowen dropped their target price on T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, April 9th. Citigroup decreased their price target on T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Finally, Evercore ISI lowered their price target on T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating for the company in a report on Friday, April 11th. Four investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $94.09.

Insider Transactions at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total transaction of $190,860.00. Following the transaction, the vice president now directly owns 44,789 shares of the company’s stock, valued at approximately $4,274,214.27. The trade was a 4.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the transaction, the director now owns 42,979 shares of the company’s stock, valued at approximately $3,935,157.24. This represents a 8.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,923 shares of company stock valued at $646,856 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $94.95 on Thursday. The firm has a market capitalization of $20.92 billion, a PE ratio of 10.77, a P/E/G ratio of 3.09 and a beta of 1.49. The business has a 50-day moving average of $92.63 and a two-hundred day moving average of $100.90. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.10. The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.80 billion. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.38 EPS. As a group, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a dividend of $1.27 per share. The ex-dividend date is Friday, June 13th. This represents a $5.08 annualized dividend and a yield of 5.35%. T. Rowe Price Group’s dividend payout ratio is currently 57.60%.

T. Rowe Price Group 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.