Dearborn Partners LLC Sells 37,178 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Dearborn Partners LLC lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 95.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,851 shares of the asset manager's stock after selling 37,178 shares during the quarter. Dearborn Partners LLC's holdings in T. Rowe Price Group were worth $213,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in TROW. Handelsbanken Fonder AB grew its stake in T. Rowe Price Group by 6.2% during the 4th quarter. Handelsbanken Fonder AB now owns 32,042 shares of the asset manager's stock worth $3,451,000 after purchasing an additional 1,877 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of T. Rowe Price Group during the fourth quarter worth about $139,000. Atria Wealth Solutions Inc. increased its stake in shares of T. Rowe Price Group by 89.6% during the fourth quarter. Atria Wealth Solutions Inc. now owns 8,714 shares of the asset manager's stock worth $939,000 after buying an additional 4,119 shares during the period. Citizens Financial Group Inc. RI acquired a new stake in T. Rowe Price Group in the fourth quarter valued at approximately $312,000. Finally, Alliance Wealth Advisors LLC UT lifted its stake in T. Rowe Price Group by 2.2% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 15,399 shares of the asset manager's stock worth $1,658,000 after acquiring an additional 336 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the completion of the sale, the vice president now owns 34,710 shares in the company, valued at $4,061,070. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the sale, the insider now owns 14,198 shares of the company's stock, valued at approximately $1,644,838.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the transaction, the vice president now owns 34,710 shares in the company, valued at approximately $4,061,070. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on TROW shares. Evercore ISI dropped their price objective on shares of T. Rowe Price Group from $110.00 to $107.00 and set an "in-line" rating on the stock in a research report on Tuesday, April 30th. StockNews.com cut T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Monday, July 29th. JPMorgan Chase & Co. upped their price objective on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $120.00 target price (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company a "hold" rating in a report on Thursday, August 15th. Four investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, T. Rowe Price Group has a consensus rating of "Hold" and an average target price of $113.10.

T. Rowe Price Group Stock Performance

NASDAQ TROW traded down $1.38 on Tuesday, reaching $107.90. The stock had a trading volume of 784,512 shares, compared to its average volume of 1,270,616. The stock has a market cap of $24.02 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 1.74 and a beta of 1.42. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $122.27. The business's 50-day moving average price is $112.83 and its 200 day moving average price is $113.93.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). The business had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.02 EPS. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.60%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 58.91%.

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.