T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Hendley & Co. Inc.

Hendley & Co. Inc. trimmed its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 30,506 shares of the asset manager’s stock after selling 1,923 shares during the period. Hendley & Co. Inc.’s holdings in T. Rowe Price Group were worth $3,450,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Addison Advisors LLC grew its holdings in shares of T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after purchasing an additional 93 shares during the last quarter. Y.D. More Investments Ltd lifted its holdings in shares of T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 155 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of T. Rowe Price Group in the 4th quarter valued at about $32,000. Advantage Trust Co grew its stake in T. Rowe Price Group by 48.8% during the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after buying an additional 100 shares during the last quarter. Finally, True Wealth Design LLC acquired a new position in T. Rowe Price Group during the third quarter worth approximately $37,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Trading Up 0.3 %

Shares of TROW stock opened at $106.57 on Tuesday. The stock has a 50 day simple moving average of $112.54 and a 200-day simple moving average of $112.43. The company has a market cap of $23.73 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 2.86 and a beta of 1.44. T. Rowe Price Group, Inc. has a 12-month low of $100.49 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates 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 last year, the business posted $1.72 EPS. On average, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $1.27 dividend. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date is Friday, March 14th. This represents a $5.08 annualized dividend and a dividend yield of 4.77%. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.46%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays decreased their price objective on 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. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Wells Fargo & Company dropped their price objective on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Evercore ISI upped their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. lowered their price target on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $114.09.

Insider Buying and Selling

In related news, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 36,800 shares of the company’s stock, valued at $4,021,136. This trade represents a 10.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the sale, the vice president now owns 119,577 shares in the company, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by 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.