T. Rowe Price Group, Inc. $TROW Shares Sold by Sienna Gestion

Sienna Gestion cut its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 113,029 shares of the asset manager’s stock after selling 8,690 shares during the quarter. Sienna Gestion’s holdings in T. Rowe Price Group were worth $11,656,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its stake in shares of T. Rowe Price Group by 332.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock valued at $897,880,000 after buying an additional 6,740,172 shares during the last quarter. First Trust Advisors LP increased its stake in shares of T. Rowe Price Group by 126.5% in the fourth quarter. First Trust Advisors LP now owns 3,280,854 shares of the asset manager’s stock worth $335,894,000 after buying an additional 1,832,231 shares during the last quarter. Norges Bank bought a new stake in shares of T. Rowe Price Group in the fourth quarter worth $128,283,000. PFA Pension Forsikringsaktieselskab acquired a new stake in T. Rowe Price Group in the fourth quarter valued at $61,073,000. Finally, Caisse de depot et placement du Quebec raised its holdings in T. Rowe Price Group by 81.0% in the third quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock valued at $134,142,000 after acquiring an additional 584,949 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the transaction, the vice president owned 83,883 shares in the company, valued at approximately $8,603,040.48. This represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

T. Rowe Price Group Trading Down 0.9%

Shares of NASDAQ TROW opened at $108.61 on Tuesday. The company has a market cap of $23.27 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 5.61 and a beta of 1.50. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $118.22. The stock’s 50 day simple moving average is $101.19 and its 200 day simple moving average is $99.67.

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

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $5.20 annualized dividend and a dividend yield of 4.8%. T. Rowe Price Group’s payout ratio is 55.73%.

Analyst Upgrades and Downgrades

TROW has been the subject of several recent analyst reports. BMO Capital Markets raised their price objective on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a report on Monday, May 4th. The Goldman Sachs Group upped their target price on shares of T. Rowe Price Group from $85.00 to $90.00 in a research note on Friday, May 1st. Evercore increased their price target on shares of T. Rowe Price Group from $106.00 to $111.00 in a research report on Monday, June 8th. Barclays lifted their price target on T. Rowe Price Group from $87.00 to $89.00 and gave the stock an “underweight” rating in a research note on Friday, May 1st. Finally, Keefe, Bruyette & Woods boosted their price objective on T. Rowe Price Group from $95.00 to $107.00 and gave the company a “market perform” rating in a report on Friday, May 1st. Eleven analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $100.08.

About T. Rowe Price Group

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.