US Asset Management LLC Has $448,000 Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

US Asset Management LLC decreased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,962 shares of the asset manager’s stock after selling 135 shares during the quarter. US Asset Management LLC’s holdings in T. Rowe Price Group were worth $448,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TROW. Barclays PLC grew its position in shares of T. Rowe Price Group by 13.6% in the third quarter. Barclays PLC now owns 822,869 shares of the asset manager’s stock valued at $89,635,000 after purchasing an additional 98,448 shares during the last quarter. Park Avenue Securities LLC acquired a new position in shares of T. Rowe Price Group in the fourth quarter valued at approximately $474,000. HB Wealth Management LLC grew its position in shares of T. Rowe Price Group by 12.4% in the fourth quarter. HB Wealth Management LLC now owns 2,691 shares of the asset manager’s stock valued at $304,000 after purchasing an additional 296 shares during the last quarter. Koshinski Asset Management Inc. acquired a new position in shares of T. Rowe Price Group in the fourth quarter valued at approximately $214,000. Finally, Janney Montgomery Scott LLC grew its position in shares of T. Rowe Price Group by 3.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 188,439 shares of the asset manager’s stock valued at $21,311,000 after purchasing an additional 6,917 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity

In other news, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the transaction, the insider now directly owns 13,611 shares in the company, valued at approximately $1,319,994.78. This represents a 6.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction on 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 transaction, the director now 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 owned by corporate insiders.

Analyst Ratings Changes

TROW has been the subject of several recent research reports. Morgan Stanley boosted their price target 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. TD Cowen cut their price target on T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, April 9th. JPMorgan Chase & Co. cut their price target on T. Rowe Price Group from $110.00 to $90.00 and set an “underweight” rating for the company in a research note on Wednesday, April 16th. Wells Fargo & Company cut their price target on T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Finally, The Goldman Sachs Group cut their price target on T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating for the company in a research note on Monday, April 14th. Four research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $94.09.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $94.46 on Friday. The business has a fifty day moving average price of $90.70 and a two-hundred day moving average price of $105.37. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The stock has a market capitalization of $20.81 billion, a PE ratio of 10.31, a PEG 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 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 firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the company earned $2.38 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.38%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group’s payout ratio is 57.60%.

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.