International Assets Investment Management LLC Sells 536 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

International Assets Investment Management LLC lessened its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 8,814 shares of the asset manager’s stock after selling 536 shares during the period. International Assets Investment Management LLC’s holdings in T. Rowe Price Group were worth $810,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of TROW. IFP Advisors Inc grew its stake in T. Rowe Price Group by 3.2% during the fourth quarter. IFP Advisors Inc now owns 3,792 shares of the asset manager’s stock worth $429,000 after buying an additional 119 shares during the last quarter. Addison Advisors LLC boosted its holdings 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. Amalgamated Bank boosted its holdings in shares of T. Rowe Price Group by 0.9% in the 4th quarter. Amalgamated Bank now owns 44,661 shares of the asset manager’s stock worth $5,051,000 after acquiring an additional 391 shares in the last quarter. Checchi Capital Advisers LLC grew its position in T. Rowe Price Group by 11.1% during the 4th quarter. Checchi Capital Advisers LLC now owns 2,419 shares of the asset manager’s stock worth $274,000 after acquiring an additional 241 shares during the last quarter. Finally, Simmons Bank increased its holdings in T. Rowe Price Group by 12.0% during the 4th quarter. Simmons Bank now owns 9,713 shares of the asset manager’s stock valued at $1,098,000 after purchasing an additional 1,041 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the sale, the vice president now directly owns 44,789 shares of the company’s stock, valued at $4,274,214.27. This represents a 4.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction that occurred 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 transaction, the insider now directly owns 13,611 shares in the company, 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 have sold 6,923 shares of company stock worth $646,856 in the last three months. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on TROW shares. Bank of America reduced their price objective 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. The Goldman Sachs Group reduced 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 report on Monday, April 14th. Cowen restated a “hold” rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Evercore ISI dropped their target price on shares of T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating for the company in a research note on Friday, April 11th. Finally, TD Cowen decreased 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 research note on Wednesday, April 9th. Four equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and an average target price of $94.09.

T. Rowe Price Group Trading Down 0.2%

T. Rowe Price Group stock opened at $94.95 on Thursday. The company has a market cap of $20.92 billion, a PE ratio of 10.77, a PEG ratio of 3.09 and a beta of 1.49. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The company’s 50-day moving average is $92.63 and its two-hundred day moving average is $100.90.

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 for the quarter, topping analysts’ consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a net margin of 28.38% and a return on equity of 20.17%. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the firm posted $2.38 earnings per share. T. Rowe Price Group’s revenue for the quarter was up .8% compared to the same quarter last year. Research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business 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 5.35%. The ex-dividend date is Friday, June 13th. 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.