Bokf Na Sells 2,759 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Bokf Na reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 125,679 shares of the asset manager’s stock after selling 2,759 shares during the quarter. Bokf Na’s holdings in T. Rowe Price Group were worth $13,642,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Addison Advisors LLC increased its stake in T. Rowe Price Group by 67.4% in the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 93 shares during the last quarter. Curio Wealth LLC acquired a new position in shares of T. Rowe Price Group during the 4th quarter worth $27,000. Y.D. More Investments Ltd lifted its position in shares of T. Rowe Price Group by 124.0% during the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after buying an additional 155 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in T. Rowe Price Group in the fourth quarter valued at about $32,000. Finally, Advantage Trust Co grew its position in T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 100 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on TROW shares. The Goldman Sachs Group dropped their target price on shares of T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating for the company in a report on Monday, April 14th. Barclays raised their target price on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the company an “underweight” rating in a research report on Monday. Evercore ISI lowered their price target on shares of T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating for the company in a report on Friday, April 11th. 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. Finally, StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $96.45.

Insider Buying and Selling

In other news, VP Arif Husain sold 4,112 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the transaction, the vice president now owns 36,800 shares of the company’s stock, valued at $4,021,136. This represents a 10.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert F. Maclellan sold 3,955 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the sale, the director now directly owns 42,979 shares of the company’s stock, valued at $3,935,157.24. The trade was a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $91.43 on Tuesday. The company’s 50 day moving average price is $91.55 and its 200-day moving average price is $106.79. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81. The company has a market capitalization of $20.32 billion, a P/E ratio of 9.98, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the business earned $2.38 earnings per share. T. Rowe Price Group’s revenue for the quarter was up .8% on a year-over-year basis. Analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $1.27 per share. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date was Friday, March 14th. This represents a $5.08 annualized dividend and a dividend yield of 5.56%. T. Rowe Price Group’s dividend payout ratio is presently 57.60%.

T. Rowe Price Group 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.