Daymark Wealth Partners LLC Decreases Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Daymark Wealth Partners LLC trimmed its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 12.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,652 shares of the asset manager’s stock after selling 981 shares during the period. Daymark Wealth Partners LLC’s holdings in T. Rowe Price Group were worth $752,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. AE Wealth Management LLC purchased a new stake in T. Rowe Price Group in the 2nd quarter worth approximately $305,000. Pacer Advisors Inc. boosted its position in shares of T. Rowe Price Group by 10.7% in the second quarter. Pacer Advisors Inc. now owns 19,422 shares of the asset manager’s stock worth $2,240,000 after acquiring an additional 1,873 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of T. Rowe Price Group by 29.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 430 shares of the asset manager’s stock valued at $49,000 after buying an additional 99 shares during the period. Public Sector Pension Investment Board increased its holdings in shares of T. Rowe Price Group by 7.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 37,878 shares of the asset manager’s stock worth $4,368,000 after buying an additional 2,670 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its holdings in shares of T. Rowe Price Group by 5.7% in the 2nd quarter. Evergreen Capital Management LLC now owns 4,682 shares of the asset manager’s stock worth $540,000 after purchasing an additional 254 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $113.38 on Friday. T. Rowe Price Group, Inc. has a fifty-two week low of $100.49 and a fifty-two week high of $125.81. The company has a market cap of $25.19 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 1.68 and a beta of 1.43. The firm has a fifty day moving average price of $117.44 and a two-hundred day moving average price of $112.80.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter last year, the company earned $2.17 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts expect that T. Rowe Price Group, Inc. will post 9.45 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a $1.24 dividend. The ex-dividend date was Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.37%. T. Rowe Price Group’s dividend payout ratio is 54.27%.

Analyst Ratings Changes

Several research firms have commented on TROW. Barclays cut their price objective on T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Keefe, Bruyette & Woods decreased their target price on T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Wells Fargo & Company lowered their price objective on shares of T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Finally, Evercore ISI increased their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and a consensus target price of $115.82.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the sale, the vice president now directly owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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.