Groesbeck Investment Management Corp NJ Sells 1,505 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Groesbeck Investment Management Corp NJ reduced its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 10.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,560 shares of the asset manager’s stock after selling 1,505 shares during the quarter. T. Rowe Price Group comprises 2.0% of Groesbeck Investment Management Corp NJ’s investment portfolio, making the stock its 13th largest position. Groesbeck Investment Management Corp NJ’s holdings in T. Rowe Price Group were worth $1,460,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Clear Harbor Asset Management LLC boosted its position in shares of T. Rowe Price Group by 3.2% during the fourth quarter. Clear Harbor Asset Management LLC now owns 3,240 shares of the asset manager’s stock valued at $349,000 after purchasing an additional 100 shares in the last quarter. TCM Advisors LLC boosted its position in shares of T. Rowe Price Group by 1.5% during the first quarter. TCM Advisors LLC now owns 6,900 shares of the asset manager’s stock valued at $779,000 after purchasing an additional 100 shares in the last quarter. Caprock Group LLC boosted its position in shares of 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 valued at $242,000 after purchasing an additional 101 shares in the last quarter. Roundview Capital LLC boosted its position in shares of T. Rowe Price Group by 0.5% during the third 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 in the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its position 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 valued at $25,000 after purchasing an additional 106 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

Insider Transactions at T. Rowe Price Group

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

Wall Street Analyst Weigh In

TROW has been the topic of several analyst reports. Wells Fargo & Company boosted their target price on T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a report on Friday, February 9th. UBS Group boosted their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Citigroup boosted their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and boosted their price target for the stock from $92.00 to $114.00 in a research note on Monday, April 8th. Finally, Morgan Stanley upped 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 report on Wednesday. Four investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $112.67.

T. Rowe Price Group Stock Down 1.2 %

NASDAQ:TROW traded down $1.34 during mid-day trading on Thursday, hitting $110.05. 868,321 shares of the company traded hands, compared to its average volume of 1,386,014. The stock’s fifty day moving average price is $114.67 and its 200-day moving average price is $106.69. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76. The firm has a market cap of $24.61 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 2.16 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.12. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the company posted $1.74 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities analysts predict that T. Rowe Price Group, Inc. will post 8.13 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $1.24 dividend. This is a positive change 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 dividend on an annualized basis and a dividend yield of 4.51%. T. Rowe Price Group’s dividend payout ratio is 63.92%.

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.