North Star Asset Management Inc. Sells 4,631 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

North Star Asset Management Inc. lowered its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 185,823 shares of the asset manager’s stock after selling 4,631 shares during the period. North Star Asset Management Inc. owned 0.08% of T. Rowe Price Group worth $21,015,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Addison Advisors LLC raised its position in shares of T. Rowe Price Group by 67.4% in the 4th 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 position in shares of T. Rowe Price Group in the 4th quarter worth approximately $27,000. Y.D. More Investments Ltd raised its position in shares of T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after acquiring an additional 155 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in shares of T. Rowe Price Group in the 4th quarter worth approximately $32,000. Finally, Advantage Trust Co raised its position in shares of 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 acquiring an additional 100 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 968 shares of the firm’s 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 transaction, the insider now directly owns 13,611 shares of the company’s stock, valued at approximately $1,319,994.78. This trade represents a 6.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert F. Maclellan sold 3,955 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 42,979 shares in the company, valued at approximately $3,935,157.24. This represents a 8.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wall Street Zen downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Cowen restated a “hold” rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. JPMorgan Chase & Co. cut their price target on T. Rowe Price Group from $110.00 to $90.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. Bank of America cut their price target on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a research note on Thursday, April 3rd. Finally, Barclays upped their price target on T. Rowe Price Group from $85.00 to $90.00 and gave the stock an “underweight” rating in a research note on Monday, May 5th. Four investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. Based on data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and an average price target of $94.09.

T. Rowe Price Group Trading Down 1.5%

Shares of TROW opened at $93.02 on Friday. The business’s fifty day simple moving average is $90.68 and its two-hundred day simple moving average is $105.22. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The company has a market cap of $20.49 billion, a price-to-earnings ratio of 10.16, a P/E/G ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, beating 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 the consensus estimate of $1.80 billion. During the same period last year, the business posted $2.38 EPS. The company’s revenue was up .8% compared to the same quarter last year. As a group, research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS 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. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.46%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 57.60%.

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.