Code Waechter LLC Reduces Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Code Waechter LLC reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 22.8% in the 4th quarter, Holdings Channel reports. The firm owned 1,809 shares of the asset manager’s stock after selling 533 shares during the period. Code Waechter LLC’s holdings in T. Rowe Price Group were worth $205,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in TROW. Principal Financial Group Inc. raised its holdings in shares of T. Rowe Price Group by 2.8% in the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock valued at $30,062,000 after buying an additional 7,503 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of T. Rowe Price Group by 3.8% in the 3rd quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock valued at $3,267,000 after purchasing an additional 1,100 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of T. Rowe Price Group in the second quarter valued at approximately $15,907,000. Aigen Investment Management LP purchased a new stake in shares of T. Rowe Price Group during the third quarter worth approximately $516,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of T. Rowe Price Group by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after purchasing an additional 231,286 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Stock Up 1.9 %

T. Rowe Price Group stock opened at $110.63 on Tuesday. The firm has a fifty day moving average of $118.17 and a 200-day moving average of $112.88. T. Rowe Price Group, Inc. has a 52-week low of $100.49 and a 52-week high of $125.81. The firm has a market capitalization of $24.58 billion, a P/E ratio of 12.10, a PEG ratio of 1.73 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the company posted $2.17 earnings per share. The firm’s revenue was up 6.9% compared to the same quarter last year. On average, research analysts expect that T. Rowe Price Group, Inc. will post 9.39 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend was Friday, December 13th. T. Rowe Price Group’s payout ratio is 54.27%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TROW shares. Barclays raised their target price on shares of T. Rowe Price Group from $110.00 to $115.00 and gave the stock an “underweight” rating in a research note on Monday, December 9th. Morgan Stanley boosted their price target on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Evercore ISI boosted their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. TD Cowen lowered their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. Finally, StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $116.55.

T. Rowe Price Group 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.