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

Northeast Investment Management reduced its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 5.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,770 shares of the asset manager's stock after selling 4,460 shares during the period. Northeast Investment Management's holdings in T. Rowe Price Group were worth $8,116,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in TROW. AlphaStar Capital Management LLC bought a new position in shares of T. Rowe Price Group during the 4th quarter valued at approximately $656,000. WCM Investment Management LLC raised its holdings in T. Rowe Price Group by 153.8% during the 4th quarter. WCM Investment Management LLC now owns 37,995 shares of the asset manager's stock valued at $4,326,000 after buying an additional 23,023 shares during the period. Entropy Technologies LP bought a new position in T. Rowe Price Group in the 4th quarter valued at $1,017,000. Wilmington Savings Fund Society FSB grew its position in T. Rowe Price Group by 1.3% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 11,554 shares of the asset manager's stock valued at $1,307,000 after acquiring an additional 150 shares during the last quarter. Finally, Apollon Wealth Management LLC grew its position in shares of T. Rowe Price Group by 27.7% during the 4th quarter. Apollon Wealth Management LLC now owns 7,797 shares of the asset manager's stock worth $882,000 after buying an additional 1,693 shares in the last quarter. Institutional investors own 73.39% of the company's stock.

Insider Activity 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 shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the transaction, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Arif Husain sold 4,112 shares of the business's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the transaction, the vice president now owns 36,800 shares in the company, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TROW shares. Wells Fargo & Company decreased their price target 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. JPMorgan Chase & Co. reduced their price target on T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating for the company in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the company a "hold" rating in a report on Monday, November 11th. Morgan Stanley lifted their price target on 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, Barclays reduced their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating on the stock in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group has a consensus rating of "Hold" and an average price target of $115.09.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW traded down $2.11 during mid-day trading on Wednesday, hitting $106.92. The company had a trading volume of 1,601,632 shares, compared to its average volume of 1,574,208. The firm has a market cap of $23.75 billion, a P/E ratio of 11.67, a PEG ratio of 1.70 and a beta of 1.44. T. Rowe Price Group, Inc. has a 12 month low of $100.49 and a 12 month high of $125.81. The business's 50-day simple moving average is $115.21 and its 200-day simple moving average is $112.48.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts' consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.91%. During the same quarter last year, the business posted $1.72 earnings per share. As a group, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.36 EPS for the current year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $1.27 per share. The ex-dividend date of this dividend is Friday, March 14th. 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 4.75%. T. Rowe Price Group's payout ratio is currently 54.15%.

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.