Money Concepts Capital Corp Sells 151 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Money Concepts Capital Corp trimmed its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,139 shares of the asset manager’s stock after selling 151 shares during the quarter. Money Concepts Capital Corp’s holdings in T. Rowe Price Group were worth $2,677,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its position in shares of T. Rowe Price Group by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager’s stock worth $2,947,559,000 after acquiring an additional 135,203 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of T. Rowe Price Group by 5.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager’s stock worth $812,798,000 after acquiring an additional 346,369 shares during the last quarter. Fayez Sarofim & Co boosted its stake in T. Rowe Price Group by 7.6% in the 4th 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 period. Geode Capital Management LLC increased its holdings 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 worth $635,260,000 after purchasing an additional 116,231 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of T. Rowe Price Group by 1.7% during the 4th quarter. Invesco Ltd. now owns 2,397,819 shares of the asset manager’s stock worth $271,169,000 after acquiring an additional 40,514 shares during the period. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Stock Up 1.3%

TROW opened at $96.18 on Friday. The stock has a market cap of $21.19 billion, a PE ratio of 10.90, a PEG ratio of 3.08 and a beta of 1.49. The business has a 50 day moving average of $92.83 and a 200-day moving average of $100.71. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81.

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 (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.10. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.80 billion. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. T. Rowe Price Group’s quarterly 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. Equities analysts anticipate 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 issued 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 5.28%. T. Rowe Price Group’s payout ratio is 57.60%.

Analyst Upgrades and Downgrades

TROW has been the subject of a number of research reports. Wells Fargo & Company dropped 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. Morgan Stanley upped 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. Citigroup reduced their target price on shares of T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group dropped their target price 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. Finally, JPMorgan Chase & Co. decreased 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 report on Wednesday, April 16th. Four equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $94.09.

Insider Activity at T. Rowe Price Group

In other 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 transaction, the director now owns 42,979 shares in the company, valued at $3,935,157.24. This trade represents a 8.43% 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 the business’s stock in a transaction on Monday, May 12th. The shares were 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 approximately $1,319,994.78. The trade was a 6.64% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,923 shares of company stock worth $646,856. 2.00% of the stock is owned by insiders.

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.