Visionary Horizons LLC Cuts Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Visionary Horizons LLC decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 13.0% during the first quarter, Holdings Channel.com reports. The fund owned 3,665 shares of the asset manager’s stock after selling 550 shares during the period. Visionary Horizons LLC’s holdings in T. Rowe Price Group were worth $337,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TROW. Addison Advisors LLC increased its stake in T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 93 shares in the last quarter. Curio Wealth LLC acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at $27,000. Stonebridge Financial Group LLC purchased a new position in T. Rowe Price Group in the 4th quarter worth $32,000. Advantage Trust Co raised 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 acquiring an additional 100 shares during the last quarter. Finally, Ameriflex Group Inc. acquired a new stake in T. Rowe Price Group during the 4th quarter worth about $42,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction on Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of the company’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the sale, the insider now directly owns 13,611 shares of the company’s stock, valued at $1,319,994.78. The trade was a 6.64% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TROW shares. JPMorgan Chase & Co. reduced their price objective 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. Barclays lifted their price objective on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the company an “underweight” rating in a research note on Monday, May 5th. Morgan Stanley raised their target price on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. TD Cowen lowered their price target on shares of T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, April 9th. Finally, Cowen reaffirmed a “hold” rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Four investment analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. 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 Trading Up 1.0%

Shares of TROW stock opened at $95.93 on Wednesday. The company has a market capitalization of $21.13 billion, a P/E ratio of 10.47, a P/E/G ratio of 2.86 and a beta of 1.49. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The business’s 50 day moving average is $90.92 and its two-hundred day moving average is $103.06.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, topping the consensus estimate of $2.13 by $0.10. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.80 billion. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The firm’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.38 EPS. On average, research analysts predict 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 business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a dividend of $1.27 per share. The ex-dividend date is Friday, June 13th. This represents a $5.08 annualized dividend and a dividend yield of 5.30%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 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.