T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 44.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,266 shares of the asset manager’s stock after selling 1,780 shares during the quarter. Bridges Investment Management Inc.’s holdings in T. Rowe Price Group were worth $244,000 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 the business. Vanguard Group Inc. boosted its position in shares of T. Rowe Price Group by 3.2% during the first quarter. Vanguard Group Inc. now owns 20,183,563 shares of the asset manager’s stock worth $3,051,553,000 after buying an additional 625,340 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of T. Rowe Price Group by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock worth $513,874,000 after purchasing an additional 134,839 shares in the last quarter. Morgan Stanley increased its position in shares of T. Rowe Price Group by 0.7% during the third quarter. Morgan Stanley now owns 3,483,350 shares of the asset manager’s stock worth $365,299,000 after purchasing an additional 25,012 shares in the last quarter. Northern Trust Corp increased its position in T. Rowe Price Group by 4.1% in the 3rd quarter. Northern Trust Corp now owns 2,356,132 shares of the asset manager’s stock valued at $247,088,000 after acquiring an additional 93,829 shares during the period. Finally, Bank of New York Mellon Corp increased its position in T. Rowe Price Group by 2.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,271,065 shares of the asset manager’s stock valued at $238,167,000 after acquiring an additional 44,175 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

TROW has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on T. Rowe Price Group from $90.00 to $94.00 and gave the company an “underweight” rating in a report on Friday, February 9th. TD Cowen started coverage on T. Rowe Price Group in a research note on Thursday, January 4th. They issued an “underperform” rating and a $88.00 target price on the stock. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. UBS Group boosted their price target on T. Rowe Price Group from $86.00 to $102.00 and gave the company a “sell” rating in a report on Wednesday, January 10th. Finally, Wells Fargo & Company upped their price objective on T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a report on Friday, February 9th. Six equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $97.30.

Check Out Our Latest Report on T. Rowe Price Group

Insider Buying and Selling

In other T. Rowe Price Group 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 shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the sale, the director now owns 21,073 shares in the company, valued at $2,493,357.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now owns 14,113 shares in the company, valued at $1,511,925.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the transaction, the director now owns 21,073 shares in the company, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Trading Up 0.5 %

NASDAQ:TROW traded up $0.55 on Wednesday, reaching $119.10. The stock had a trading volume of 92,938 shares, compared to its average volume of 1,389,941. The company has a 50-day moving average of $113.35 and a 200 day moving average of $105.94. The stock has a market cap of $26.64 billion, a P/E ratio of 15.35, a price-to-earnings-growth ratio of 2.40 and a beta of 1.40. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $132.76.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last issued its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, topping the consensus estimate of $1.60 by $0.12. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the company posted $1.74 earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 7.75 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $1.24 per share. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $4.96 annualized dividend and a yield of 4.16%. T. Rowe Price Group’s dividend payout ratio is 63.92%.

T. Rowe Price Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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