T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Marino Stram & Associates LLC

Marino Stram & Associates LLC cut its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 26.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,052 shares of the asset manager’s stock after selling 727 shares during the period. Marino Stram & Associates LLC’s holdings in T. Rowe Price Group were worth $232,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in shares of T. Rowe Price Group by 7,992.0% in the third quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock valued at $116,300,000 after purchasing an additional 1,054,461 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of T. Rowe Price Group by 382.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock valued at $43,373,000 after purchasing an additional 315,581 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of T. Rowe Price Group by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock valued at $745,169,000 after purchasing an additional 231,286 shares during the period. AQR Capital Management LLC grew its holdings in shares of T. Rowe Price Group by 77.2% in the second quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock valued at $52,032,000 after purchasing an additional 196,565 shares during the period. Finally, Franklin Resources Inc. grew its holdings in shares of T. Rowe Price Group by 45.1% in the third quarter. Franklin Resources Inc. now owns 490,155 shares of the asset manager’s stock valued at $53,760,000 after purchasing an additional 152,430 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TROW has been the subject of a number of analyst reports. Wells Fargo & Company dropped 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 report on Tuesday, January 14th. TD Cowen decreased their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of 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. Finally, The Goldman Sachs Group dropped their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research report on Thursday, October 3rd. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $115.82.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the sale, the vice president now owns 119,577 shares of the company’s stock, 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 can be accessed through this link. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Stock Down 0.2 %

Shares of T. Rowe Price Group stock opened at $113.54 on Thursday. T. Rowe Price Group, Inc. has a 52-week low of $100.49 and a 52-week high of $125.81. The company has a 50 day moving average of $117.53 and a 200 day moving average of $112.80. The company has a market capitalization of $25.22 billion, a P/E ratio of 12.42, a P/E/G ratio of 1.68 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (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 company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the firm earned $2.17 earnings per share. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, research analysts anticipate 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 business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a dividend of $1.24 per share. The ex-dividend date was Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.37%. T. Rowe Price Group’s payout ratio is currently 54.27%.

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.