Pittenger & Anderson Inc. Sells 21,360 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Pittenger & Anderson Inc. trimmed its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 72.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 8,059 shares of the asset manager’s stock after selling 21,360 shares during the quarter. Pittenger & Anderson Inc.’s holdings in T. Rowe Price Group were worth $868,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of TROW. Creative Financial Designs Inc. ADV increased its holdings in shares of T. Rowe Price Group by 83.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after purchasing an additional 106 shares during the period. OFI Invest Asset Management bought a new position in T. Rowe Price Group during the 3rd quarter worth $25,000. Park Place Capital Corp raised its holdings in T. Rowe Price Group by 1,775.0% in the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 284 shares in the last quarter. Fortitude Family Office LLC bought a new stake in shares of T. Rowe Price Group during the 4th quarter valued at $33,000. Finally, CVA Family Office LLC acquired a new stake in shares of T. Rowe Price Group during the 4th quarter worth $39,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock traded down $2.23 on Thursday, hitting $108.83. 2,161,031 shares of the company’s stock traded hands, compared to its average volume of 1,424,683. The company has a market capitalization of $24.34 billion, a price-to-earnings ratio of 14.31, a price-to-earnings-growth ratio of 2.10 and a beta of 1.40. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76. The company has a fifty day moving average of $114.98 and a two-hundred day moving average of $106.98.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.12. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. During the same quarter in the prior year, the business earned $1.74 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities research analysts anticipate that T. Rowe Price Group, Inc. will post 8.36 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $1.24 per share. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. The ex-dividend date was Thursday, March 14th. This represents a $4.96 annualized dividend and a dividend yield of 4.56%. T. Rowe Price Group’s payout ratio is currently 63.92%.

Analysts Set New Price Targets

Several research firms have commented on TROW. TD Cowen raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and raised their target price for the company from $92.00 to $114.00 in a report on Monday, April 8th. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $106.00 to $120.00 in a research report on Thursday, April 11th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Wells Fargo & Company upped their price objective on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a research report on Friday, February 9th. Finally, UBS Group increased their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Four analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $112.67.

Insider Buying and Selling

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

T. Rowe Price Group Company 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.