Empowered Funds LLC Sells 86,149 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Empowered Funds LLC reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 70.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,029 shares of the asset manager's stock after selling 86,149 shares during the quarter. Empowered Funds LLC's holdings in T. Rowe Price Group were worth $4,075,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of T. Rowe Price Group by 437.7% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,597 shares of the asset manager's stock valued at $174,000 after acquiring an additional 1,300 shares during the period. Exchange Traded Concepts LLC bought a new position in shares of T. Rowe Price Group during the third quarter valued at $105,000. Creative Planning lifted its holdings in shares of T. Rowe Price Group by 0.3% during the third quarter. Creative Planning now owns 55,324 shares of the asset manager's stock valued at $6,026,000 after acquiring an additional 177 shares during the period. Brady Family Wealth LLC lifted its holdings in shares of T. Rowe Price Group by 0.6% during the third quarter. Brady Family Wealth LLC now owns 22,009 shares of the asset manager's stock valued at $2,397,000 after acquiring an additional 125 shares during the period. Finally, Bourne Lent Asset Management Inc. lifted its holdings in shares of T. Rowe Price Group by 1.1% during the third quarter. Bourne Lent Asset Management Inc. now owns 9,067 shares of the asset manager's stock valued at $988,000 after acquiring an additional 100 shares during the period. 73.39% of the stock is owned by institutional investors.

Insider Transactions at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now owns 119,577 shares in the company, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the transaction, the vice president now owns 36,800 shares in the company, valued at $4,021,136. This trade represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

T. Rowe Price Group Stock Down 0.1 %

TROW stock traded down $0.07 during midday trading on Friday, reaching $107.17. The stock had a trading volume of 1,176,023 shares, compared to its average volume of 1,674,756. The firm has a market cap of $23.81 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.70 and a beta of 1.44. T. Rowe Price Group, Inc. has a twelve month low of $100.49 and a twelve month high of $125.81. The business has a fifty day simple moving average of $114.21 and a two-hundred day simple moving average of $112.36.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted 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 20.91% and a net margin of 29.61%. During the same period last year, the business earned $1.72 EPS. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 9.36 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $1.27 per share. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a dividend yield of 4.74%. The ex-dividend date of this dividend is Friday, March 14th. T. Rowe Price Group's payout ratio is presently 54.15%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TROW shares. Barclays cut their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating for the company in a report on Thursday, February 6th. Evercore ISI raised their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the company an "in-line" rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. lowered their target price on T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating for the company in a research note on Monday, November 4th. Wells Fargo & Company lowered their target price on T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. Finally, TD Cowen lowered their target price on T. Rowe Price Group from $120.00 to $116.00 and set a "hold" rating for the company in a research note on Monday, November 4th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $115.09.

About T. Rowe Price Group

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.