T. Rowe Price Group, Inc. $TROW Shares Sold by Northeast Investment Management

Northeast Investment Management trimmed its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 21.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 19,123 shares of the asset manager’s stock after selling 5,156 shares during the period. Northeast Investment Management’s holdings in T. Rowe Price Group were worth $1,724,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. State Street Corp lifted its position in T. Rowe Price Group by 0.3% in the fourth quarter. State Street Corp now owns 14,159,797 shares of the asset manager’s stock valued at $1,449,680,000 after buying an additional 45,530 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of T. Rowe Price Group by 332.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after acquiring an additional 6,740,172 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of T. Rowe Price Group by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,073,846 shares of the asset manager’s stock worth $826,600,000 after purchasing an additional 143,109 shares during the period. Invesco Ltd. increased its holdings in T. Rowe Price Group by 3.9% in the 4th quarter. Invesco Ltd. now owns 3,520,858 shares of the asset manager’s stock valued at $360,465,000 after purchasing an additional 131,438 shares during the last quarter. Finally, Morgan Stanley raised its position in T. Rowe Price Group by 16.0% in the fourth quarter. Morgan Stanley now owns 3,443,322 shares of the asset manager’s stock valued at $352,528,000 after purchasing an additional 476,219 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insiders Place Their Bets

In related 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 sale, the vice president owned 83,883 shares of the company’s stock, valued at $8,603,040.48. This trade represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on TROW. Zacks Research upgraded T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 13th. Jefferies Financial Group decreased their target price on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research note on Wednesday, April 8th. Morgan Stanley set a $105.00 target price on T. Rowe Price Group in a report on Monday, April 27th. The Goldman Sachs Group lifted their target price on T. Rowe Price Group from $85.00 to $90.00 in a research report on Friday, May 1st. Finally, Barclays increased their price target on shares of T. Rowe Price Group from $87.00 to $89.00 and gave the stock an “underweight” rating in a research report on Friday, May 1st. Eleven investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $100.08.

T. Rowe Price Group Trading Up 1.1%

NASDAQ:TROW opened at $106.34 on Friday. The firm has a market cap of $22.79 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 5.41 and a beta of 1.50. The stock has a fifty day moving average price of $103.66 and a 200 day moving average price of $99.88. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.15. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.T. Rowe Price Group’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.23 EPS. Equities analysts forecast that T. Rowe Price Group, Inc. will post 9.58 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio is presently 55.73%.

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.