Davis R M Inc. Sells 6,750 Shares of T. Rowe Price Group, Inc. $TROW

Davis R M Inc. lowered its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 50.6% in the first quarter, Holdings Channel.com reports. The fund owned 6,590 shares of the asset manager’s stock after selling 6,750 shares during the quarter. Davis R M Inc.’s holdings in T. Rowe Price Group were worth $594,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. TD Private Client Wealth LLC boosted its stake in shares of T. Rowe Price Group by 91.8% during the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 123 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its stake in T. Rowe Price Group by 540.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after buying an additional 238 shares during the period. Canton Hathaway LLC bought a new stake in T. Rowe Price Group during the 4th quarter valued at about $31,000. Sound Income Strategies LLC lifted its holdings in T. Rowe Price Group by 170.3% during 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 in the last quarter. Finally, DV Equities LLC purchased a new stake in T. Rowe Price Group in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Barclays upped their target price on shares of T. Rowe Price Group from $89.00 to $108.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 14th. Jefferies Financial Group lowered their price target on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a report on Wednesday, April 8th. JPMorgan Chase & Co. dropped their price objective on T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating on the stock in a research note on Friday, April 24th. TD Cowen reduced their price objective on T. Rowe Price Group from $108.00 to $107.00 and set a “hold” rating on the stock in a report on Monday. Finally, Morgan Stanley lifted their target price on T. Rowe Price Group from $105.00 to $109.00 and gave the company an “equal weight” rating in a research report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $104.50.

T. Rowe Price Group Stock Down 0.9%

Shares of TROW opened at $114.95 on Friday. The company has a market cap of $24.63 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 4.16 and a beta of 1.47. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $121.17. The company has a 50 day moving average of $109.89 and a two-hundred day moving average of $101.67.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the company earned $2.23 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 10.12 EPS for the current year.

T. Rowe Price Group Dividend Announcement

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

Insider Buying and Selling

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the sale, the vice president directly owned 83,883 shares in the company, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.

About T. Rowe Price Group

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.