Corient Private Wealth LLC Trims Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Corient Private Wealth LLC lowered its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 422,886 shares of the asset manager’s stock after selling 18,382 shares during the period. Corient Private Wealth LLC’s holdings in T. Rowe Price Group were worth $47,824,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of TROW. Choate Investment Advisors bought a new stake in T. Rowe Price Group during the fourth quarter valued at approximately $289,000. Natixis Advisors LLC raised its position in shares of T. Rowe Price Group by 1.8% during the 4th quarter. Natixis Advisors LLC now owns 47,720 shares of the asset manager’s stock valued at $5,397,000 after buying an additional 845 shares in the last quarter. Van Strum & Towne Inc. bought a new stake in shares of T. Rowe Price Group during the 4th quarter worth $252,000. Catalyst Funds Management Pty Ltd purchased a new position in T. Rowe Price Group in the fourth quarter worth $204,000. Finally, First National Trust Co increased its stake in T. Rowe Price Group by 22.6% in the fourth quarter. First National Trust Co now owns 55,807 shares of the asset manager’s stock valued at $6,311,000 after acquiring an additional 10,287 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In related news, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the transaction, the vice president now owns 36,800 shares in the company, valued at $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Stock Up 1.4 %

Shares of TROW opened at $94.31 on Tuesday. The firm has a fifty day simple moving average of $107.87 and a two-hundred day simple moving average of $111.57. T. Rowe Price Group, Inc. has a twelve month low of $91.37 and a twelve month high of $125.81. The stock has a market capitalization of $21.00 billion, a P/E ratio of 10.30, a PEG 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 (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period in the prior year, the firm earned $1.72 earnings per share. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.39%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio is currently 55.46%.

Analysts Set New Price Targets

Several brokerages have issued reports on TROW. Morgan Stanley dropped their price target on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Wells Fargo & Company cut their target price on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Barclays lowered their price objective on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $113.00 target price (up previously from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $114.09.

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.