Summit Trail Advisors LLC Sells 670 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Summit Trail Advisors LLC lessened its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 18.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,929 shares of the asset manager’s stock after selling 670 shares during the period. Summit Trail Advisors LLC’s holdings in T. Rowe Price Group were worth $315,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Simmons Bank lifted its position in shares of T. Rowe Price Group by 23.0% during the 3rd quarter. Simmons Bank now owns 3,503 shares of the asset manager’s stock worth $367,000 after buying an additional 656 shares during the last quarter. L. Roy Papp & Associates LLP grew its holdings 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 during the last quarter. Nordea Investment Management AB increased its position in T. Rowe Price Group by 3.5% during 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 in the last quarter. Vest Financial LLC lifted its stake in 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 valued at $30,213,000 after purchasing an additional 92,059 shares during the last quarter. Finally, Certuity LLC acquired a new stake in T. Rowe Price Group in the fourth quarter valued at approximately $228,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $111.25 on Wednesday. The firm has a market cap of $24.84 billion, a P/E ratio of 13.21, a P/E/G ratio of 1.93 and a beta of 1.40. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $132.76. The firm’s fifty day moving average is $115.24 and its 200-day moving average is $107.68.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the company posted $1.69 EPS. The business’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 8.75 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.46%. T. Rowe Price Group’s payout ratio is 58.91%.

Wall Street Analysts Forecast Growth

TROW has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price target on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Wells Fargo & Company increased their target price on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. Evercore ISI reduced their price target on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a report on Tuesday, April 30th. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $106.00 to $120.00 in a research report on Thursday, April 11th. Finally, Citigroup upped their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Four investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and an average target price of $112.10.

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 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction on Friday, March 8th. The stock was 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 approximately $2,493,357.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 1,138 shares of the business’s 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 sale, the insider now owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. Insiders sold a total of 12,921 shares of company stock valued at $1,500,133 in the last quarter. 2.00% of the stock is currently owned by company insiders.

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.