Folger Nolan Fleming Douglas Capital Management Inc. Decreases Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Folger Nolan Fleming Douglas Capital Management Inc. trimmed its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 3.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,094 shares of the asset manager's stock after selling 3,144 shares during the period. T. Rowe Price Group accounts for approximately 1.1% of Folger Nolan Fleming Douglas Capital Management Inc.'s holdings, making the stock its 26th largest position. Folger Nolan Fleming Douglas Capital Management Inc.'s holdings in T. Rowe Price Group were worth $10,302,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. International Assets Investment Management LLC raised its position in shares of T. Rowe Price Group by 7,992.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager's stock valued at $116,300,000 after purchasing an additional 1,054,461 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in T. Rowe Price Group by 382.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager's stock worth $43,373,000 after buying an additional 315,581 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of T. Rowe Price Group by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager's stock valued at $745,169,000 after acquiring an additional 231,286 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of T. Rowe Price Group by 15.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager's stock valued at $185,810,000 after acquiring an additional 220,105 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of T. Rowe Price Group by 77.2% in the second quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager's stock worth $52,032,000 after acquiring an additional 196,565 shares during the period. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW traded up $1.08 during trading on Friday, hitting $113.21. The company had a trading volume of 1,182,106 shares, compared to its average volume of 1,142,590. The stock has a market cap of $25.15 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 1.42 and a beta of 1.43. The company has a fifty day simple moving average of $117.71 and a two-hundred day simple moving average of $112.84. T. Rowe Price Group, Inc. has a one year low of $100.49 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the company earned $2.17 earnings per share. T. Rowe Price Group's revenue was up 6.9% on a year-over-year basis. On average, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.46 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a dividend of $1.24 per share. The ex-dividend date was Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.38%. T. Rowe Price Group's payout ratio is 54.27%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the sale, the vice president now owns 119,577 shares of the company's stock, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TROW shares. Wells Fargo & Company lowered their price target on T. Rowe Price Group from $124.00 to $118.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 14th. Evercore ISI boosted their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an "in-line" rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods cut their target price on shares of T. Rowe Price Group from $116.00 to $111.00 and set a "market perform" rating for the company in a research note on Monday, January 13th. Morgan Stanley boosted their price target on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the stock an "equal weight" rating in a research note on Friday, December 20th. Finally, StockNews.com lowered T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Friday. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of "Hold" and a consensus target price of $115.82.

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.