Davis R M Inc. Trims Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Davis R M Inc. lowered its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 64.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,812 shares of the asset manager’s stock after selling 98,699 shares during the quarter. Davis R M Inc.’s holdings in T. Rowe Price Group were worth $6,199,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Addison Advisors LLC lifted its stake in T. Rowe Price Group by 67.4% in the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after buying an additional 93 shares during the last quarter. Y.D. More Investments Ltd lifted its stake in T. Rowe Price Group by 124.0% in the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after buying an additional 155 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in T. Rowe Price Group in the fourth quarter valued at approximately $32,000. Advantage Trust Co lifted its stake in T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after buying an additional 100 shares during the last quarter. Finally, True Wealth Design LLC acquired a new position in shares of T. Rowe Price Group in the third quarter valued at approximately $37,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $98.77 on Tuesday. The business’s fifty day moving average price is $109.86 and its 200 day moving average price is $112.06. T. Rowe Price Group, Inc. has a 1-year low of $97.26 and a 1-year high of $125.81. The firm has a market capitalization of $21.99 billion, a PE ratio of 10.78, a P/E/G ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same period last year, the business posted $1.72 earnings per share. Equities research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $1.27 dividend. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 annualized dividend and a yield of 5.14%. T. Rowe Price Group’s dividend payout ratio is 55.46%.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the sale, the vice president now directly owns 36,800 shares in the company, valued at $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TROW has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft boosted their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a report on Monday, November 11th. Wells Fargo & Company dropped their target price on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Barclays dropped their target price on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Morgan Stanley dropped their target price on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Finally, StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $114.09.

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.