Delta Financial Advisors LLC Sells 219 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Delta Financial Advisors LLC trimmed its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,067 shares of the asset manager’s stock after selling 219 shares during the quarter. Delta Financial Advisors LLC’s holdings in T. Rowe Price Group were worth $869,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. OFI Invest Asset Management purchased a new stake in shares of T. Rowe Price Group during the 3rd quarter worth approximately $25,000. Creative Financial Designs Inc. ADV raised its holdings in shares of T. Rowe Price Group by 83.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after acquiring an additional 106 shares in the last quarter. PCA Investment Advisory Services Inc. purchased a new stake in shares of T. Rowe Price Group during the 2nd quarter worth approximately $26,000. Park Place Capital Corp raised its holdings in shares of T. Rowe Price Group by 1,775.0% during the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after acquiring an additional 284 shares in the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in shares of T. Rowe Price Group during the 4th quarter worth approximately $33,000. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Trading Down 1.3 %

Shares of TROW traded down $1.43 during midday trading on Thursday, reaching $109.96. 881,316 shares of the stock were exchanged, compared to its average volume of 1,386,624. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $132.76. The company’s 50 day moving average is $114.67 and its two-hundred day moving average is $106.69. The company has a market capitalization of $24.59 billion, a P/E ratio of 14.35, a PEG ratio of 2.16 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.12. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the company earned $1.74 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 8.13 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $1.24 per share. The ex-dividend date was Thursday, March 14th. This represents a $4.96 dividend on an annualized basis and a yield of 4.51%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 63.92%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. UBS Group increased their price target on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a report on Friday, April 12th. Citigroup increased their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Morgan Stanley increased their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a report on Wednesday. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. increased their price target on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a report on Tuesday. Four investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Hold” and an average price target of $112.67.

Insider Activity at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the sale, the insider now owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the sale, the insider now owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the sale, the director now directly owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

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.