Stratos Wealth Advisors LLC lowered its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Rating) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,388 shares of the asset manager’s stock after selling 140 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in T. Rowe Price Group were worth $588,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Zullo Investment Group Inc. lifted its stake in shares of T. Rowe Price Group by 164.6% in the 3rd quarter. Zullo Investment Group Inc. now owns 254 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 158 shares in the last quarter. Oakworth Capital Inc. acquired a new position in T. Rowe Price Group during the 3rd quarter worth approximately $28,000. Eisler Capital UK Ltd. acquired a new position in T. Rowe Price Group during the 3rd quarter worth approximately $29,000. Asset Dedication LLC lifted its position in T. Rowe Price Group by 173.8% during the 4th quarter. Asset Dedication LLC now owns 293 shares of the asset manager’s stock worth $32,000 after acquiring an additional 186 shares in the last quarter. Finally, CVA Family Office LLC raised its position in shares of T. Rowe Price Group by 102.6% in the 3rd quarter. CVA Family Office LLC now owns 385 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 195 shares in the last quarter. Institutional investors and hedge funds own 76.58% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on TROW shares. JPMorgan Chase & Co. lowered their price target on T. Rowe Price Group from $96.00 to $95.00 and set an “underweight” rating for the company in a report on Friday, January 27th. Credit Suisse Group lowered their price objective on T. Rowe Price Group from $70.00 to $65.00 and set an “underperform” rating for the company in a research note on Friday, January 27th. Deutsche Bank Aktiengesellschaft lowered their price objective on T. Rowe Price Group from $121.00 to $113.00 and set a “hold” rating for the company in a research note on Friday, January 27th. StockNews.com assumed coverage on T. Rowe Price Group in a research note on Thursday, March 16th. They set a “hold” rating for the company. Finally, Morgan Stanley lowered their price objective on T. Rowe Price Group from $108.00 to $102.00 and set an “equal weight” rating for the company in a research note on Monday, January 30th. Five research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $100.30.
T. Rowe Price Group Stock Up 2.3 %
T. Rowe Price Group (NASDAQ:TROW – Get Rating) last posted its quarterly earnings data on Thursday, January 26th. The asset manager reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.02. T. Rowe Price Group had a return on equity of 20.36% and a net margin of 24.01%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the firm earned $3.17 earnings per share. T. Rowe Price Group’s revenue for the quarter was down 21.4% compared to the same quarter last year. As a group, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 6.77 earnings per share for the current fiscal year.
T. Rowe Price Group Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 30th. Investors of record on Wednesday, March 15th will be given a dividend of $1.22 per share. The ex-dividend date is Tuesday, March 14th. This represents a $4.88 dividend on an annualized basis and a yield of 4.41%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.20. T. Rowe Price Group’s dividend payout ratio is currently 72.94%.
Insider Buying and Selling at T. Rowe Price Group
In other news, VP Andrew C. Mccormick sold 14,154 shares of T. Rowe Price Group stock in a transaction dated Friday, February 10th. The stock was sold at an average price of $116.73, for a total value of $1,652,196.42. Following the completion of the transaction, the vice president now directly owns 70,319 shares of the company’s stock, valued at approximately $8,208,336.87. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $114.52, for a total transaction of $1,370,689.88. Following the transaction, the vice president now directly owns 129,436 shares of the company’s stock, valued at $14,823,010.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Andrew C. Mccormick sold 14,154 shares of the firm’s stock in a transaction dated Friday, February 10th. The stock was sold at an average price of $116.73, for a total transaction of $1,652,196.42. Following the completion of the sale, the vice president now owns 70,319 shares of the company’s stock, valued at $8,208,336.87. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
About T. Rowe Price Group
T. Rowe Price Group, Inc engages in the provision of investment management services. The company was founded by Thomas Rowe Price Jr. in 1937 and is headquartered in Baltimore, MD.
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