Marino Stram & Associates LLC Lowers Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Marino Stram & Associates LLC cut its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 9.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,797 shares of the asset manager’s stock after selling 293 shares during the quarter. Marino Stram & Associates LLC’s holdings in T. Rowe Price Group were worth $301,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Fairfield Bush & CO. acquired a new position in T. Rowe Price Group during the 1st quarter worth about $150,000. Roundview Capital LLC acquired a new stake in T. Rowe Price Group in the 1st quarter valued at about $2,092,000. Cibc World Market Inc. raised its position in T. Rowe Price Group by 75.9% in the 1st 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 in the last quarter. Dimensional Fund Advisors LP raised its position in T. Rowe Price Group by 5.5% in the 1st 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 in the last quarter. Finally, Prudential PLC raised its position in T. Rowe Price Group by 47.1% in the 1st 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 in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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 stock was 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 $1,511,925.69. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 stock was 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 $1,511,925.69. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction 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 completion of 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. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research report on Tuesday. Morgan Stanley increased their price objective on T. Rowe Price Group from $101.00 to $106.00 and gave the company an “equal weight” rating in a report on Friday, January 19th. TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their price objective for the company from $92.00 to $114.00 in a report on Monday, April 8th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, Wells Fargo & Company increased their price objective 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. Four analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $110.56.

T. Rowe Price Group Price Performance

Shares of TROW stock traded down $1.96 during midday trading on Tuesday, hitting $112.29. The company had a trading volume of 478,476 shares, compared to its average volume of 1,379,385. The company’s 50 day simple moving average is $114.58 and its 200 day simple moving average is $106.61. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $132.76. The stock has a market cap of $25.11 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 2.22 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, beating the consensus estimate of $1.60 by $0.12. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the firm earned $1.74 EPS. Analysts anticipate that T. Rowe Price Group, Inc. will post 8.13 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $1.24 dividend. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.22. This represents a $4.96 annualized dividend and a dividend yield of 4.42%. The ex-dividend date was Thursday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 63.92%.

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.