Corient Private Wealth LLC Sells 18,382 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Corient Private Wealth LLC trimmed its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 4.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 422,886 shares of the asset manager's stock after selling 18,382 shares during the quarter. Corient Private Wealth LLC owned about 0.19% of T. Rowe Price Group worth $47,824,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TROW. Atria Investments Inc lifted its position in shares of T. Rowe Price Group by 7.0% in the third quarter. Atria Investments Inc now owns 6,103 shares of the asset manager's stock valued at $665,000 after acquiring an additional 400 shares in the last quarter. CIBC Asset Management Inc raised its stake in T. Rowe Price Group by 6.8% during the 3rd quarter. CIBC Asset Management Inc now owns 38,064 shares of the asset manager's stock valued at $4,146,000 after purchasing an additional 2,423 shares during the period. Claro Advisors LLC lifted its holdings in T. Rowe Price Group by 13.4% in the 3rd quarter. Claro Advisors LLC now owns 7,964 shares of the asset manager's stock worth $867,000 after purchasing an additional 942 shares in the last quarter. Quest Partners LLC boosted its stake in T. Rowe Price Group by 442,900.0% in the 3rd quarter. Quest Partners LLC now owns 4,430 shares of the asset manager's stock worth $483,000 after purchasing an additional 4,429 shares during the period. Finally, LMR Partners LLP purchased a new stake in T. Rowe Price Group during the 3rd quarter valued at approximately $249,000. Institutional investors own 73.39% of the company's stock.

Remove Ads

Insider Activity

In related news, VP Arif Husain sold 4,112 shares of the firm's 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 completion of the sale, the vice president now directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.00% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on TROW. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $113.00 target price (up previously from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Morgan Stanley decreased their price target on shares of T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating on the stock in a research note on Monday, February 24th. StockNews.com downgraded shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Sunday, February 2nd. Wells Fargo & Company reduced 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 report on Thursday, February 6th. Finally, Barclays dropped their price target on T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating for the company in a research note on Thursday, February 6th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $114.09.

T. Rowe Price Group Stock Down 0.2 %

TROW traded down $0.21 during trading on Friday, reaching $92.83. The company had a trading volume of 5,915,209 shares, compared to its average volume of 1,296,255. The business has a 50 day simple moving average of $106.71 and a 200-day simple moving average of $111.23. The stock has a market cap of $20.67 billion, a P/E ratio of 10.13, a PEG ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 52 week low of $91.37 and a 52 week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released 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 return on equity of 20.83% and a net margin of 29.61%. During the same quarter in the prior year, the business posted $1.72 earnings per share. As a group, equities research analysts expect 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. Shareholders of record on Friday, March 14th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 5.47%. The ex-dividend date is Friday, March 14th. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.24. T. Rowe Price Group's payout ratio is 55.46%.

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.