Hartline Investment Corp Sells 410 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Hartline Investment Corp decreased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,025 shares of the asset manager’s stock after selling 410 shares during the quarter. Hartline Investment Corp’s holdings in T. Rowe Price Group were worth $1,403,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Simmons Bank lifted its stake in shares of T. Rowe Price Group by 23.0% during the 3rd quarter. Simmons Bank now owns 3,503 shares of the asset manager’s stock valued at $367,000 after buying an additional 656 shares in the last quarter. L. Roy Papp & Associates LLP lifted its stake in T. Rowe Price Group by 5.8% in the 4th quarter. L. Roy Papp & Associates LLP now owns 158,875 shares of the asset manager’s stock worth $17,109,000 after purchasing an additional 8,773 shares in the last quarter. Nordea Investment Management AB lifted its stake in T. Rowe Price Group by 3.5% in the 4th quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock worth $34,299,000 after purchasing an additional 10,680 shares in the last quarter. Vest Financial LLC lifted its stake in T. Rowe Price Group by 48.8% in the 4th quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock worth $30,213,000 after purchasing an additional 92,059 shares in the last quarter. Finally, Cullen Investment Group LTD. purchased a new stake in T. Rowe Price Group in the 4th quarter worth $953,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on TROW shares. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Citigroup upped 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 report on Friday, April 5th. Wells Fargo & Company upped their price target on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, February 9th. UBS Group upped their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a report on Friday, April 12th. Finally, Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their target price for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. Four equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $112.67.

Insider Activity at T. Rowe Price Group

In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the 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 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $121,913.94. Following the completion of the transaction, the insider now owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 completion of the transaction, the director now directly owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Stock Down 0.8 %

Shares of NASDAQ TROW traded down $0.88 during midday trading on Wednesday, reaching $111.06. 1,053,896 shares of the company’s stock traded hands, compared to its average volume of 1,415,362. The stock’s 50 day simple moving average is $114.89 and its 200-day simple moving average is $106.95. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76. The company has a market cap of $24.84 billion, a price-to-earnings ratio of 14.43, a P/E/G ratio of 2.09 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.72 earnings per share (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 firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the firm earned $1.74 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. Equities analysts predict that T. Rowe Price Group, Inc. will post 8.36 EPS for the current fiscal 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 given a dividend of $1.24 per share. This is a boost 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 dividend on an annualized basis and a yield of 4.47%. T. Rowe Price Group’s dividend payout ratio is presently 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.