T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by United Asset Strategies Inc.

United Asset Strategies Inc. lowered its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 35.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,255 shares of the asset manager’s stock after selling 4,487 shares during the period. United Asset Strategies Inc.’s holdings in T. Rowe Price Group were worth $889,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Simmons Bank lifted its position in T. Rowe Price Group by 23.0% in the 3rd quarter. Simmons Bank now owns 3,503 shares of the asset manager’s stock valued at $367,000 after purchasing an additional 656 shares during the last quarter. L. Roy Papp & Associates LLP boosted its position in shares of T. Rowe Price Group by 5.8% during the 4th quarter. L. Roy Papp & Associates LLP now owns 158,875 shares of the asset manager’s stock valued at $17,109,000 after purchasing an additional 8,773 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of T. Rowe Price Group by 3.5% in the 4th quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock worth $34,299,000 after purchasing an additional 10,680 shares during the last quarter. Vest Financial LLC raised its holdings in shares of T. Rowe Price Group by 48.8% in the 4th quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock worth $30,213,000 after purchasing an additional 92,059 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in T. Rowe Price Group by 11.6% during the third quarter. Nomura Asset Management Co. Ltd. now owns 297,846 shares of the asset manager’s stock worth $31,235,000 after buying an additional 30,899 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $112.11 on Wednesday. The stock has a market cap of $25.07 billion, a PE ratio of 14.45, a PEG ratio of 2.20 and a beta of 1.40. The firm’s 50 day moving average price is $114.64 and its two-hundred day moving average price is $106.66. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.12. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. T. Rowe Price Group’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.74 earnings per share. As a group, sell-side analysts predict that T. Rowe Price Group, Inc. will post 8.13 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $1.24 per share. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.22. This represents a $4.96 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date was Thursday, March 14th. T. Rowe Price Group’s payout ratio is currently 63.92%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and lifted their target price for the company from $92.00 to $114.00 in a research report on Monday, April 8th. Morgan Stanley lifted their price target on 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. Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $106.00 to $120.00 in a report on Thursday, April 11th. JPMorgan Chase & Co. boosted their target price on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research note on Tuesday. Finally, StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Four research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $110.56.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the transaction, the director now directly owns 21,073 shares in the company, valued at $2,493,357.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the sale, the insider now directly owns 14,113 shares of the company’s stock, valued at $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 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.