GHP Investment Advisors Inc. Reduces Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

GHP Investment Advisors Inc. cut its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 8.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,743 shares of the asset manager’s stock after selling 2,911 shares during the period. GHP Investment Advisors Inc.’s holdings in T. Rowe Price Group were worth $3,311,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in TROW. Fairfield Bush & CO. purchased a new position in T. Rowe Price Group in the first quarter valued at about $150,000. Roundview Capital LLC acquired a new stake in shares of T. Rowe Price Group in the first quarter valued at approximately $2,092,000. Cibc World Market Inc. grew its position in shares of T. Rowe Price Group by 75.9% in the first quarter. Cibc World Market Inc. now owns 27,065 shares of the asset manager’s stock valued at $4,092,000 after purchasing an additional 11,675 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of T. Rowe Price Group by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,158,038 shares of the asset manager’s stock valued at $175,099,000 after purchasing an additional 60,580 shares during the last quarter. Finally, Prudential PLC grew its position in shares of T. Rowe Price Group by 47.1% in the first quarter. Prudential PLC now owns 12,117 shares of the asset manager’s stock valued at $1,832,000 after purchasing an additional 3,880 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TROW has been the topic of several research reports. Citigroup increased their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. JPMorgan Chase & Co. increased their price target on shares of T. Rowe Price Group from $90.00 to $94.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their price target for the company from $92.00 to $114.00 in a research report on Monday. Wells Fargo & Company raised their target price on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a research report on Friday, February 9th. Finally, Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $106.00 to $120.00 in a research report on Thursday. Four analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, T. Rowe Price Group presently has an average rating of “Hold” and a consensus target price of $107.70.

T. Rowe Price Group Trading Up 0.8 %

Shares of TROW stock opened at $117.55 on Thursday. The company’s fifty day simple moving average is $114.19 and its 200-day simple moving average is $106.35. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $132.76. The company has a market cap of $26.29 billion, a PE ratio of 15.02, a P/E/G ratio of 2.44 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.63 billion. During the same quarter last year, the firm posted $1.74 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities research analysts expect that T. Rowe Price Group, Inc. will post 7.84 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently declared 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 an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. The ex-dividend date was Thursday, March 14th. This represents a $4.96 annualized dividend and a yield of 4.22%. T. Rowe Price Group’s payout ratio is 63.92%.

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction 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 sale, the insider now owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

About T. Rowe Price Group

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.