Folger Nolan Fleming Douglas Capital Management Inc. Has $10.30 Million Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Folger Nolan Fleming Douglas Capital Management Inc. decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 91,094 shares of the asset manager’s stock after selling 3,144 shares during the period. T. Rowe Price Group makes up 1.1% of Folger Nolan Fleming Douglas Capital Management Inc.’s holdings, making the stock its 26th largest position. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in T. Rowe Price Group were worth $10,302,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Brooklyn Investment Group boosted its stake in T. Rowe Price Group by 24.6% during the 4th quarter. Brooklyn Investment Group now owns 497 shares of the asset manager’s stock worth $56,000 after acquiring an additional 98 shares during the last quarter. Whitener Capital Management Inc. acquired a new stake in T. Rowe Price Group in the fourth quarter worth $206,000. Merit Financial Group LLC acquired a new stake in T. Rowe Price Group in the fourth quarter worth $1,502,000. Avanza Fonder AB bought a new position in shares of T. Rowe Price Group during the fourth quarter worth $2,085,000. Finally, Central Valley Advisors LLC acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at $207,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $113.21 on Friday. The company has a market cap of $25.15 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 1.42 and a beta of 1.43. The firm has a 50-day moving average of $117.80 and a 200-day moving average of $112.86. T. Rowe Price Group, Inc. has a one year low of $100.49 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.36 by $0.21. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.17 earnings per share. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.46 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a $1.24 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.38%. T. Rowe Price Group’s dividend payout ratio is presently 54.27%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Barclays reduced their price target on shares of T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating for the company in a report on Friday. Morgan Stanley increased their price objective on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Evercore ISI boosted their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. lowered their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, T. Rowe Price Group has a consensus rating of “Hold” and an average target price of $115.82.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the sale, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.00% of the stock is owned by corporate 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.