T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by TAP Consulting LLC

TAP Consulting LLC cut its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 10.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,775 shares of the asset manager’s stock after selling 2,032 shares during the period. TAP Consulting LLC’s holdings in T. Rowe Price Group were worth $1,806,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TROW. International Assets Investment Management LLC grew its stake in shares of T. Rowe Price Group by 8,968.6% in the fourth quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager’s stock valued at $97,152,000 after buying an additional 892,198 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of T. Rowe Price Group during the third quarter valued at approximately $21,114,000. Robeco Institutional Asset Management B.V. lifted its position in shares of T. Rowe Price Group by 282.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 201,435 shares of the asset manager’s stock worth $21,124,000 after purchasing an additional 148,787 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of T. Rowe Price Group by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock valued at $513,874,000 after purchasing an additional 134,839 shares during the period. Finally, Invesco Ltd. grew its holdings in T. Rowe Price Group by 7.6% during the 3rd quarter. Invesco Ltd. now owns 1,684,057 shares of the asset manager’s stock valued at $176,607,000 after purchasing an additional 119,305 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Down 2.0 %

T. Rowe Price Group stock traded down $2.23 during mid-day trading on Thursday, reaching $108.83. The company had a trading volume of 2,161,391 shares, compared to its average volume of 1,424,685. The company has a 50 day moving average of $115.00 and a 200-day moving average of $107.00. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $132.76. The firm has a market cap of $24.34 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 2.10 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last released 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. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the business earned $1.74 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, analysts predict that T. Rowe Price Group, Inc. will post 8.36 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.56%. The ex-dividend date was Thursday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s payout ratio is 63.92%.

Analyst Upgrades and Downgrades

TROW has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their price target for the company from $106.00 to $120.00 in a report on Thursday, April 11th. Wells Fargo & Company boosted their price objective on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, February 9th. TD Cowen raised T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their price target for the company from $92.00 to $114.00 in a research report on Monday, April 8th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Finally, Morgan Stanley lifted their price target on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. Four equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and an average price target of $112.67.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the transaction, the insider now owns 14,113 shares in the company, valued at $1,511,925.69. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the sale, the insider now owns 14,113 shares in the company, valued at approximately $1,511,925.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $1,034,116.80. Following the completion of the transaction, the director now owns 21,073 shares in the company, valued at $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

About T. Rowe Price Group

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.