T. Rowe Price Group, Inc. $TROW Shares Sold by IFG Advisory LLC

IFG Advisory LLC lessened its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 23.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,577 shares of the asset manager’s stock after selling 7,356 shares during the quarter. IFG Advisory LLC’s holdings in T. Rowe Price Group were worth $2,516,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. TD Private Client Wealth LLC boosted its stake in T. Rowe Price Group by 91.8% during the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after buying an additional 123 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its stake in T. Rowe Price Group by 540.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after buying an additional 238 shares during the period. Canton Hathaway LLC purchased a new position in T. Rowe Price Group during the fourth quarter worth about $31,000. Sound Income Strategies LLC boosted its stake in T. Rowe Price Group by 170.3% during the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after buying an additional 189 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its stake in T. Rowe Price Group by 92.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 386 shares of the asset manager’s stock worth $40,000 after buying an additional 185 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the transaction, the vice president owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $103.55 on Friday. The firm has a 50 day simple moving average of $97.01 and a 200-day simple moving average of $99.21. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $118.22. The firm has a market cap of $22.19 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 5.35 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, beating the consensus estimate of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same quarter last year, the firm posted $2.23 earnings per share. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities analysts predict that T. Rowe Price Group, Inc. will post 9.63 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $5.20 annualized dividend and a dividend yield of 5.0%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.73%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TROW. Zacks Research raised shares of T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. The Goldman Sachs Group increased their target price on shares of T. Rowe Price Group from $85.00 to $90.00 in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft dropped their target price on T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday, February 5th. Barclays lifted their target price on T. Rowe Price Group from $87.00 to $89.00 and gave the company an “underweight” rating in a research report on Friday, May 1st. Finally, Morgan Stanley set a $105.00 price objective on shares of T. Rowe Price Group in a research note on Monday, April 27th. Eleven equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $99.54.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.