Lowe Brockenbrough & Co. Inc. Sells 411 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Lowe Brockenbrough & Co. Inc. lessened its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,167 shares of the asset manager’s stock after selling 411 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in T. Rowe Price Group were worth $1,489,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of T. Rowe Price Group by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock valued at $812,798,000 after purchasing an additional 346,369 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of T. Rowe Price Group by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager’s stock valued at $598,801,000 after purchasing an additional 25,481 shares in the last quarter. Provident Trust Co. boosted its holdings in shares of T. Rowe Price Group by 8.9% in the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock valued at $295,311,000 after purchasing an additional 213,566 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of T. Rowe Price Group by 0.5% in the 4th quarter. Fisher Asset Management LLC now owns 1,870,446 shares of the asset manager’s stock valued at $211,529,000 after purchasing an additional 8,992 shares in the last quarter. Finally, Amundi boosted its holdings in shares of T. Rowe Price Group by 30.1% in the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock valued at $194,064,000 after purchasing an additional 397,278 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the sale, the vice president now directly owns 36,800 shares of the company’s stock, valued at $4,021,136. The trade was a 10.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

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

T. Rowe Price Group Stock Down 0.2 %

Shares of NASDAQ:TROW opened at $92.83 on Friday. The firm has a market cap of $20.67 billion, a P/E ratio of 10.13, a P/E/G ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 12-month low of $91.37 and a 12-month high of $125.81. The business has a fifty day simple moving average of $106.39 and a 200 day simple moving average of $111.14.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share 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 business earned $1.72 earnings per share. As a group, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $1.27 dividend. The ex-dividend date is Friday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a dividend yield of 5.47%. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.46%.

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.