T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Obermeyer Wood Investment Counsel Lllp

Obermeyer Wood Investment Counsel Lllp decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 8.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,326 shares of the asset manager’s stock after selling 393 shares during the period. Obermeyer Wood Investment Counsel Lllp’s holdings in T. Rowe Price Group were worth $466,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Simmons Bank increased its holdings in T. Rowe Price Group by 23.0% in the third quarter. Simmons Bank now owns 3,503 shares of the asset manager’s stock valued at $367,000 after buying an additional 656 shares in the last quarter. L. Roy Papp & Associates LLP increased its holdings in T. Rowe Price Group by 5.8% in the fourth quarter. L. Roy Papp & Associates LLP now owns 158,875 shares of the asset manager’s stock valued at $17,109,000 after buying an additional 8,773 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of T. Rowe Price Group by 3.5% during the 4th quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock worth $34,299,000 after purchasing an additional 10,680 shares in the last quarter. Vest Financial LLC increased its stake in shares of T. Rowe Price Group by 48.8% during the 4th quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock worth $30,213,000 after purchasing an additional 92,059 shares in the last quarter. Finally, Cullen Investment Group LTD. acquired a new stake in T. Rowe Price Group during the fourth quarter worth approximately $953,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Trading Down 2.4 %

TROW stock traded down $2.67 during midday trading on Thursday, reaching $108.72. The company had a trading volume of 2,484,741 shares, compared to its average volume of 1,408,567. The company has a 50 day moving average of $114.67 and a two-hundred day moving average of $106.69. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $132.76. The company has a market capitalization of $24.31 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 announced its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, topping the consensus estimate of $1.60 by $0.12. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the business posted $1.74 EPS. T. Rowe Price Group’s quarterly revenue was up 6.5% on a year-over-year basis. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 8.13 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.56%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend was Thursday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 63.92%.

Insiders Place Their Bets

In other news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the transaction, the director now owns 21,073 shares in the company, valued at $2,493,357.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were 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 approximately $1,511,925.69. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TROW shares. JPMorgan Chase & Co. raised their target price on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research report on Tuesday. Citigroup boosted their target price on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Wells Fargo & Company boosted their target price on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a research note on Friday, February 9th. Morgan Stanley boosted their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, TD Cowen raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and boosted their target price for the company from $92.00 to $114.00 in a research note on Monday, April 8th. Four analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $112.67.

About T. Rowe Price Group

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.