Mogy Joel R Investment Counsel Inc. Sells 8,140 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Mogy Joel R Investment Counsel Inc. cut its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 40.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,775 shares of the asset manager’s stock after selling 8,140 shares during the quarter. Mogy Joel R Investment Counsel Inc.’s holdings in T. Rowe Price Group were worth $1,268,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Clear Harbor Asset Management LLC lifted its position in shares of T. Rowe Price Group by 3.2% during the fourth quarter. Clear Harbor Asset Management LLC now owns 3,240 shares of the asset manager’s stock worth $349,000 after purchasing an additional 100 shares during the last quarter. Caprock Group LLC lifted its position in shares of T. Rowe Price Group by 4.7% during the fourth quarter. Caprock Group LLC now owns 2,251 shares of the asset manager’s stock worth $242,000 after purchasing an additional 101 shares during the last quarter. Roundview Capital LLC lifted its position in shares of T. Rowe Price Group by 0.5% during the third quarter. Roundview Capital LLC now owns 22,279 shares of the asset manager’s stock worth $2,336,000 after purchasing an additional 105 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its position in shares of T. Rowe Price Group by 83.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after purchasing an additional 106 shares during the last quarter. Finally, Simplicity Solutions LLC lifted its position in shares of T. Rowe Price Group by 3.4% during the third quarter. Simplicity Solutions LLC now owns 3,391 shares of the asset manager’s stock worth $356,000 after purchasing an additional 112 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Insider Transactions at T. Rowe Price Group

In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 21,073 shares in the company, valued at $2,493,357.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Jessica M. Hiebler sold 1,138 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 14,113 shares in the company, valued at $1,511,925.69. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the director now owns 21,073 shares in the company, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TROW. UBS Group lifted their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research report on Friday, April 12th. Citigroup lifted their target price on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Wells Fargo & Company lifted 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. Finally, JPMorgan Chase & Co. lifted their price objective on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. Four equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and an average target price of $112.67.

T. Rowe Price Group Stock Performance

TROW traded up $5.19 on Friday, hitting $114.02. The company had a trading volume of 2,943,278 shares, compared to its average volume of 1,335,708. The stock has a fifty day moving average price of $115.10 and a 200-day moving average price of $107.07. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $132.76. The stock has a market capitalization of $25.50 billion, a price-to-earnings ratio of 14.69, a P/E/G ratio of 2.04 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the firm earned $1.69 earnings per share. The company’s revenue was up 13.8% on a year-over-year basis. Analysts forecast that T. Rowe Price Group, Inc. will post 8.36 EPS 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. Stockholders of record on Friday, March 15th were paid a dividend of $1.24 per share. This is a positive change 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 dividend yield of 4.35%. T. Rowe Price Group’s payout ratio is presently 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.