Folger Nolan Fleming Douglas Capital Management Inc. Has $10.36 Million Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Folger Nolan Fleming Douglas Capital Management Inc. lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,172 shares of the asset manager’s stock after selling 1,439 shares during the quarter. T. Rowe Price Group comprises 1.1% of Folger Nolan Fleming Douglas Capital Management Inc.’s investment portfolio, making the stock its 24th biggest position. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in T. Rowe Price Group were worth $10,357,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Clear Harbor Asset Management LLC lifted its stake in shares of T. Rowe Price Group by 3.2% in the fourth quarter. Clear Harbor Asset Management LLC now owns 3,240 shares of the asset manager’s stock worth $349,000 after acquiring an additional 100 shares during the period. Caprock Group LLC grew its holdings in T. Rowe Price Group by 4.7% during the fourth quarter. Caprock Group LLC now owns 2,251 shares of the asset manager’s stock worth $242,000 after buying an additional 101 shares in the last quarter. Roundview Capital LLC grew its stake in T. Rowe Price Group by 0.5% in the 3rd quarter. Roundview Capital LLC now owns 22,279 shares of the asset manager’s stock valued at $2,336,000 after purchasing an additional 105 shares during the period. Creative Financial Designs Inc. ADV grew its stake in T. Rowe Price Group by 83.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 106 shares during the period. Finally, Simplicity Solutions LLC grew its stake in T. Rowe Price Group by 3.4% in the 3rd quarter. Simplicity Solutions LLC now owns 3,391 shares of the asset manager’s stock valued at $356,000 after purchasing an additional 112 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity

In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the business’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 transaction, the director now owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group 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 transaction, the director now owns 21,073 shares in the company, valued at approximately $2,493,357.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of 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. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Up 4.8 %

Shares of T. Rowe Price Group stock traded up $5.19 during trading on Friday, reaching $114.02. The company’s stock had a trading volume of 2,943,278 shares, compared to its average volume of 1,335,708. The company has a market cap of $25.50 billion, a price-to-earnings ratio of 14.69, a P/E/G ratio of 2.04 and a beta of 1.40. 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 50-day simple moving average of $115.10 and a two-hundred day simple moving average of $107.07.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the firm posted $1.69 EPS. The firm’s revenue was up 13.8% compared to the same quarter last year. As a group, 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.35%. The ex-dividend date was Thursday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s payout ratio is 63.92%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and raised their target price for the company from $106.00 to $120.00 in a research note on Thursday, April 11th. Morgan Stanley lifted their price objective on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. Wells Fargo & Company boosted their price target on T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a research note on Friday, February 9th. Finally, StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Four research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus price target of $112.67.

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.