Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Trims Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 61.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 680 shares of the asset manager’s stock after selling 1,097 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in T. Rowe Price Group were worth $74,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TROW. AE Wealth Management LLC grew its stake in T. Rowe Price Group by 19.2% in the third quarter. AE Wealth Management LLC now owns 11,878 shares of the asset manager’s stock worth $1,246,000 after purchasing an additional 1,914 shares during the period. Ziegler Capital Management LLC bought a new stake in T. Rowe Price Group in the third quarter worth $1,677,000. GHP Investment Advisors Inc. boosted its holdings in T. Rowe Price Group by 0.4% in the third quarter. GHP Investment Advisors Inc. now owns 33,654 shares of the asset manager’s stock worth $3,387,000 after acquiring an additional 145 shares in the last quarter. Avity Investment Management Inc. boosted its holdings in T. Rowe Price Group by 4.5% in the third quarter. Avity Investment Management Inc. now owns 4,655 shares of the asset manager’s stock worth $488,000 after acquiring an additional 200 shares in the last quarter. Finally, Greenwood Capital Associates LLC bought a new stake in T. Rowe Price Group in the third quarter worth $871,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the sale, the director now directly owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the transaction, the director now owns 21,073 shares in the company, valued at $2,493,357.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the sale, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $111.94 on Wednesday. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $132.76. The firm has a market capitalization of $25.03 billion, a P/E ratio of 14.43, a P/E/G ratio of 2.09 and a beta of 1.40. The stock has a 50 day moving average price of $114.89 and a 200 day moving average price of $106.95.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.12. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the business posted $1.74 EPS. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 8.36 EPS for the current year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $1.24 dividend. The ex-dividend date was Thursday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.22. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.43%. T. Rowe Price Group’s dividend payout ratio is currently 63.92%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Wells Fargo & Company upped their price target on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, February 9th. TD Cowen raised T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their price target for the company from $92.00 to $114.00 in a report on Monday, April 8th. Citigroup upped their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Finally, Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their price target for the company from $106.00 to $120.00 in a report on Thursday, April 11th. Four equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $112.67.

T. Rowe Price Group Company 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.