United Asset Strategies Inc. Sells 4,487 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

United Asset Strategies Inc. lessened its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 35.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,255 shares of the asset manager’s stock after selling 4,487 shares during the quarter. United Asset Strategies Inc.’s holdings in T. Rowe Price Group were worth $889,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TROW. OFI Invest Asset Management bought a new stake in shares of T. Rowe Price Group in the 3rd quarter valued at about $25,000. Creative Financial Designs Inc. ADV increased its position in shares of T. Rowe Price Group by 83.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after buying an additional 106 shares in the last quarter. PCA Investment Advisory Services Inc. acquired a new stake in T. Rowe Price Group during the 2nd quarter worth $26,000. Park Place Capital Corp lifted its holdings in T. Rowe Price Group by 1,775.0% during the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after acquiring an additional 284 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new stake in shares of T. Rowe Price Group in the fourth quarter worth about $33,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at T. Rowe Price Group

In related 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 stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the sale, the director now owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction 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 directly owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the sale, the insider now directly owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Trading Down 1.9 %

Shares of TROW stock opened at $112.11 on Wednesday. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $132.76. The stock has a market cap of $25.07 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 2.20 and a beta of 1.40. The stock has a 50-day moving average of $114.64 and a 200-day moving average of $106.66.

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

T. Rowe Price Group Increases Dividend

The company also recently announced 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 represents a $4.96 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 63.92%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Morgan Stanley boosted their price objective on shares of T. Rowe Price Group from $101.00 to $106.00 and gave the company an “equal weight” rating in a research report on Friday, January 19th. Citigroup increased their price objective on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Wells Fargo & Company increased their price objective on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a research note on Friday, February 9th. Finally, TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and raised their price objective for the stock from $92.00 to $114.00 in a research note on Monday, April 8th. Four analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group has an average rating of “Hold” and a consensus target price of $110.56.

T. Rowe Price Group 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.