Studio Investment Management LLC Sells 180 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Studio Investment Management LLC lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 23.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 599 shares of the asset manager’s stock after selling 180 shares during the quarter. Studio Investment Management LLC’s holdings in T. Rowe Price Group were worth $68,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in TROW. Addison Advisors LLC lifted its position 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 acquiring an additional 93 shares in the last quarter. Curio Wealth LLC bought a new stake in shares of T. Rowe Price Group during the 4th quarter valued at $27,000. Y.D. More Investments Ltd lifted its holdings in 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 purchasing an additional 155 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in T. Rowe Price Group in the 4th quarter worth about $32,000. Finally, Advantage Trust Co boosted its stake in T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after purchasing an additional 100 shares during the period. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Up 0.4%

NASDAQ TROW opened at $98.06 on Friday. The company has a 50-day simple moving average of $90.46 and a two-hundred day simple moving average of $105.75. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The firm has a market cap of $21.60 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 2.86 and a beta of 1.50.

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

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date is Friday, June 13th. T. Rowe Price Group’s payout ratio is 57.60%.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the sale, the director now directly owns 42,979 shares in the company, valued at approximately $3,935,157.24. This trade represents a 8.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 968 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the transaction, the insider now directly owns 13,611 shares in the company, valued at $1,319,994.78. This trade represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TROW. Bank of America cut their price objective on shares of T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating for the company in a research report on Thursday, April 3rd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Barclays boosted their price target 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, May 5th. Evercore ISI lowered their price objective on T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating on the stock in a research report on Friday, April 11th. Finally, Morgan Stanley lifted their price objective on T. Rowe Price Group from $94.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. Four research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $94.09.

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.