Yousif Capital Management LLC Has $7.99 Million Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Yousif Capital Management LLC decreased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 86,944 shares of the asset manager’s stock after selling 700 shares during the period. Yousif Capital Management LLC’s holdings in T. Rowe Price Group were worth $7,988,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in T. Rowe Price Group by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager’s stock worth $2,947,559,000 after buying an additional 135,203 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of T. Rowe Price Group by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock valued at $812,798,000 after purchasing an additional 346,369 shares during the last quarter. Fayez Sarofim & Co grew its stake in shares of T. Rowe Price Group by 7.6% during the fourth quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager’s stock valued at $684,474,000 after purchasing an additional 425,142 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of T. Rowe Price Group by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager’s stock valued at $635,260,000 after purchasing an additional 116,231 shares during the last quarter. Finally, Provident Trust Co. grew its stake in shares of T. Rowe Price Group by 8.9% during the fourth quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock valued at $295,311,000 after purchasing an additional 213,566 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TROW. The Goldman Sachs Group decreased their price target on shares of T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company decreased their price target on shares of T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Bank of America dropped their price objective on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating for the company in a report on Thursday, April 3rd. Morgan Stanley boosted their price objective on 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. Finally, Barclays boosted their price objective on T. Rowe Price Group from $85.00 to $90.00 and gave the stock an “underweight” rating in a report on Monday, May 5th. Four equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $94.09.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $95.93 on Wednesday. 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 $21.13 billion, a PE ratio of 10.47, a PEG ratio of 2.86 and a beta of 1.49. The company has a 50 day moving average price of $90.92 and a two-hundred day moving average price of $103.06.

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 net margin of 29.61% and a return on equity of 20.83%. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the firm earned $2.38 earnings per share. The business’s quarterly revenue was up .8% on a year-over-year basis. On average, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 5.30%. The ex-dividend date is Friday, June 13th. T. Rowe Price Group’s payout ratio is presently 57.60%.

Insider Buying and Selling at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction 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 approximately $3,935,157.24. This represents a 8.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 968 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 13,611 shares of the company’s stock, valued at approximately $1,319,994.78. The trade was a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

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.