T. Rowe Price Group, Inc. $TROW Shares Sold by L. Roy Papp & Associates LLP

L. Roy Papp & Associates LLP cut its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 24.9% in the fourth quarter, Holdings Channel reports. The firm owned 68,230 shares of the asset manager’s stock after selling 22,592 shares during the period. L. Roy Papp & Associates LLP’s holdings in T. Rowe Price Group were worth $6,985,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. lifted its position in T. Rowe Price Group by 540.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after acquiring an additional 238 shares during the period. Root Financial Partners LLC acquired a new stake in T. Rowe Price Group during the 3rd quarter worth about $30,000. Canton Hathaway LLC acquired a new stake in T. Rowe Price Group during the 4th quarter worth about $31,000. Sound Income Strategies LLC lifted its position 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 worth $32,000 after acquiring an additional 189 shares during the period. Finally, Salomon & Ludwin LLC lifted its position in T. Rowe Price Group by 84.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock worth $33,000 after acquiring an additional 145 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Up 1.1%

Shares of TROW stock opened at $99.14 on Wednesday. The stock has a market cap of $21.57 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 4.25 and a beta of 1.50. The business has a 50-day simple moving average of $91.93 and a 200-day simple moving average of $99.42. T. Rowe Price Group, Inc. has a 52-week low of $84.40 and a 52-week high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Wednesday, February 4th. The asset manager reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.47 by ($0.03). The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.29%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm earned $2.12 EPS. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.69 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Monday, March 16th were paid a $1.30 dividend. The ex-dividend date was Monday, March 16th. This represents a $5.20 annualized dividend and a dividend yield of 5.2%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.27. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 56.22%.

Analyst Ratings Changes

A number of analysts have commented on the company. BMO Capital Markets lowered their price target on T. Rowe Price Group from $104.00 to $98.00 and set a “market perform” rating for the company in a research report on Friday, April 10th. The Goldman Sachs Group lifted their price target on T. Rowe Price Group from $80.00 to $85.00 and gave the stock a “sell” rating in a research report on Tuesday, April 14th. Jefferies Financial Group decreased their price objective on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a research note on Wednesday, April 8th. Morgan Stanley decreased their price objective on shares of T. Rowe Price Group from $115.00 to $107.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 1st. Finally, Evercore decreased their price objective on shares of T. Rowe Price Group from $99.00 to $96.00 in a research note on Friday, April 10th. Ten analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group presently has an average rating of “Reduce” and an average target price of $96.85.

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.