AlphaQuest LLC Sells 3,709 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

AlphaQuest LLC trimmed its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 83.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 721 shares of the asset manager's stock after selling 3,709 shares during the quarter. AlphaQuest LLC's holdings in T. Rowe Price Group were worth $82,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. United Community Bank bought a new stake in T. Rowe Price Group in the 4th quarter worth about $1,608,000. Amundi increased its holdings in T. Rowe Price Group by 30.1% in the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager's stock worth $194,064,000 after buying an additional 397,278 shares in the last quarter. Lifeworks Advisors LLC purchased a new position in T. Rowe Price Group in the fourth quarter worth about $209,000. Bank Julius Baer & Co. Ltd Zurich boosted its position in T. Rowe Price Group by 7.4% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,975 shares of the asset manager's stock worth $496,000 after purchasing an additional 275 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC boosted its position in T. Rowe Price Group by 9.7% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 7,995 shares of the asset manager's stock worth $904,000 after purchasing an additional 709 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Trading Down 0.2 %

TROW traded down $0.21 on Friday, hitting $92.83. 5,915,239 shares of the company's stock traded hands, compared to its average volume of 1,294,920. The company's 50 day simple moving average is $106.39 and its 200-day simple moving average is $111.19. The firm has a market cap of $20.67 billion, a price-to-earnings ratio of 10.13, a P/E/G ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a one year low of $91.37 and a one year high of $125.81.

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T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same period in the prior year, the company posted $1.72 EPS. As a group, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 5.47%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from T. Rowe Price Group's previous quarterly dividend of $1.24. T. Rowe Price Group's dividend payout ratio (DPR) is 55.46%.

Insider Activity at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the sale, the vice president now owns 36,800 shares of the company's stock, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TROW. Barclays dropped their target price on T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating on the stock in a research report on Thursday, February 6th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. StockNews.com cut T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Sunday, February 2nd. Wells Fargo & Company dropped their target price on T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 6th. Finally, Morgan Stanley dropped their target price on T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating on the stock in a research report on Monday, February 24th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. According to data from MarketBeat, T. Rowe Price Group has an average rating of "Hold" and a consensus price target of $114.09.

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.