Sterling Capital Management LLC Sells 4,492 Shares of T. Rowe Price Group, Inc. $TROW

Sterling Capital Management LLC lowered its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 35.0% in the first quarter, HoldingsChannel reports. The fund owned 8,329 shares of the asset manager’s stock after selling 4,492 shares during the period. Sterling Capital Management LLC’s holdings in T. Rowe Price Group were worth $751,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. TD Private Client Wealth LLC lifted its position in shares of T. Rowe Price Group by 91.8% in the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after purchasing an additional 123 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in T. Rowe Price Group by 540.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 238 shares in the last quarter. Canton Hathaway LLC acquired a new stake in T. Rowe Price Group in the 4th quarter valued at $31,000. Sound Income Strategies LLC increased its stake in T. Rowe Price Group by 170.3% in the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock valued at $32,000 after buying an additional 189 shares during the last quarter. Finally, DV Equities LLC bought a new stake in T. Rowe Price Group during the 4th quarter worth about $32,000. 73.39% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the sale, the vice president owned 83,883 shares of the company’s stock, valued at $8,603,040.48. This trade represents a 3.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Morgan Stanley raised their price objective on T. Rowe Price Group from $105.00 to $109.00 and gave the company an “equal weight” rating in a report on Friday, June 26th. Barclays upped their target price on T. Rowe Price Group from $87.00 to $89.00 and gave the stock an “underweight” rating in a report on Friday, May 1st. BMO Capital Markets raised their price target on T. Rowe Price Group from $98.00 to $110.00 and gave the company a “market perform” rating in a research note on Monday, May 4th. Zacks Research raised T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 13th. Finally, Jefferies Financial Group lowered their price target on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research report on Wednesday, April 8th. Eleven research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, T. Rowe Price Group has an average rating of “Reduce” and an average target price of $100.54.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $116.11 on Thursday. The company’s 50-day moving average is $105.01 and its 200-day moving average is $100.13. The firm has a market capitalization of $24.88 billion, a PE ratio of 12.44, a P/E/G ratio of 5.78 and a beta of 1.47. T. Rowe Price Group, Inc. has a fifty-two week low of $85.22 and a fifty-two week high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.15. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. T. Rowe Price Group’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the business posted $2.23 EPS. As a group, analysts expect that T. Rowe Price Group, Inc. will post 9.7 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Monday, June 15th. T. Rowe Price Group’s dividend payout ratio is 55.73%.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.