T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Korea Investment CORP

Korea Investment CORP trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 18.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 101,196 shares of the asset manager's stock after selling 23,500 shares during the quarter. Korea Investment CORP's holdings in T. Rowe Price Group were worth $11,444,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Addison Advisors LLC lifted its position in T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock valued at $26,000 after acquiring an additional 93 shares during the last quarter. Curio Wealth LLC acquired a new position in shares of T. Rowe Price Group during the fourth quarter worth $27,000. Y.D. More Investments Ltd lifted its holdings in shares of T. Rowe Price Group by 124.0% during the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock valued at $32,000 after purchasing an additional 155 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of T. Rowe Price Group in the 4th quarter worth $32,000. Finally, Advantage Trust Co grew its stake in T. Rowe Price Group by 48.8% during the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock worth $34,000 after buying an additional 100 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on TROW. StockNews.com cut T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. Citigroup decreased their price objective on shares of T. Rowe Price Group from $120.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday. Wells Fargo & Company dropped their target price on shares of 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. Morgan Stanley cut 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. Finally, The Goldman Sachs Group lowered their price objective on shares of T. Rowe Price Group from $103.00 to $89.00 and set a "sell" rating for the company in a research note on Thursday. Five investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, T. Rowe Price Group currently has a consensus rating of "Hold" and a consensus price target of $108.50.

Remove Ads

T. Rowe Price Group Stock Performance

NASDAQ TROW traded down $6.44 on Thursday, reaching $87.46. 1,830,149 shares of the company's stock traded hands, compared to its average volume of 1,370,505. The stock has a 50 day moving average price of $103.36 and a 200-day moving average price of $110.62. The firm has a market cap of $19.44 billion, a price-to-earnings ratio of 9.55, a P/E/G ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a fifty-two week low of $85.76 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings data 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 last year, the firm posted $1.72 earnings per share. As a group, equities research 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 business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 5.81%. The ex-dividend date was 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 dividend payout ratio is currently 55.46%.

Insider Transactions at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the sale, the director now directly owns 42,979 shares of the company's stock, valued at approximately $3,935,157.24. This represents a 8.43 % decrease in their ownership of the stock. The sale was disclosed in a filing 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 on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the transaction, the vice president now directly owns 36,800 shares of the company's stock, valued at $4,021,136. The trade was 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 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.