Matrix Trust Co Sells 359 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Matrix Trust Co decreased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 13,481 shares of the asset manager’s stock after selling 359 shares during the quarter. Matrix Trust Co’s holdings in T. Rowe Price Group were worth $1,452,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clear Harbor Asset Management LLC raised its stake in T. Rowe Price Group by 3.2% during the 4th quarter. Clear Harbor Asset Management LLC now owns 3,240 shares of the asset manager’s stock worth $349,000 after acquiring an additional 100 shares during the period. Caprock Group LLC raised its stake in T. Rowe Price Group by 4.7% during the 4th quarter. Caprock Group LLC now owns 2,251 shares of the asset manager’s stock worth $242,000 after acquiring an additional 101 shares during the period. Roundview Capital LLC raised its stake in T. Rowe Price Group by 0.5% during the 3rd quarter. Roundview Capital LLC now owns 22,279 shares of the asset manager’s stock worth $2,336,000 after acquiring an additional 105 shares during the period. Creative Financial Designs Inc. ADV raised its stake in T. Rowe Price Group by 83.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after acquiring an additional 106 shares during the period. Finally, Simplicity Solutions LLC grew its holdings in T. Rowe Price Group by 3.4% during the 3rd quarter. Simplicity Solutions LLC now owns 3,391 shares of the asset manager’s stock valued at $356,000 after buying an additional 112 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TROW. TD Cowen raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their price objective for the company from $92.00 to $114.00 in a report on Monday, April 8th. Citigroup increased their price objective on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, April 5th. UBS Group increased their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a report on Friday, April 12th. Wells Fargo & Company increased their price objective on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, February 9th. Finally, 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 company from $106.00 to $120.00 in a report on Thursday, April 11th. Four equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $112.67.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, 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 transaction, the insider now owns 14,113 shares in the company, valued at $1,511,925.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, 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 completion of the sale, the insider now directly owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

TROW stock traded up $5.19 during mid-day trading on Friday, reaching $114.02. 2,943,278 shares of the stock traded hands, compared to its average volume of 1,335,708. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76. The stock has a market capitalization of $25.50 billion, a PE ratio of 14.69, a PEG ratio of 2.04 and a beta of 1.40. The business has a 50-day moving average price of $115.10 and a two-hundred day moving average price of $107.07.

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, beating analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the business posted $1.69 earnings per share. The business’s revenue was up 13.8% compared to the same quarter last year. On average, equities analysts expect 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $1.24 per share. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $4.96 dividend on an annualized basis and a yield of 4.35%. T. Rowe Price Group’s payout ratio is 63.92%.

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.