T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 10.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 137,213 shares of the asset manager's stock after selling 15,811 shares during the quarter. Prudential Financial Inc. owned about 0.06% of T. Rowe Price Group worth $15,517,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Glenview Trust co boosted its stake in T. Rowe Price Group by 2.2% in the fourth quarter. Glenview Trust co now owns 4,318 shares of the asset manager's stock valued at $488,000 after acquiring an additional 92 shares in the last quarter. MCF Advisors LLC boosted its position in shares of T. Rowe Price Group by 1.5% in the 4th quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager's stock worth $704,000 after purchasing an additional 93 shares in the last quarter. Addison Advisors LLC grew its stake in T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock worth $26,000 after buying an additional 93 shares during the last quarter. Brooklyn Investment Group increased its position in T. Rowe Price Group by 24.6% during the 4th quarter. Brooklyn Investment Group now owns 497 shares of the asset manager's stock valued at $56,000 after buying an additional 98 shares in the last quarter. Finally, Advantage Trust Co raised its stake in T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock valued at $34,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

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Insider Activity

In other news, VP Arif Husain sold 4,112 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The stock was 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company cut their price objective on shares of T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating on the stock in a report on Thursday, February 6th. StockNews.com downgraded shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. Morgan Stanley cut their target price on T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating on the stock in a research report on Monday, February 24th. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Finally, Citigroup reduced their price objective on T. Rowe Price Group from $120.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of "Hold" and a consensus price target of $111.82.

T. Rowe Price Group Stock Performance

NASDAQ TROW traded down $0.01 during mid-day trading on Monday, reaching $91.56. 976,975 shares of the stock were exchanged, compared to its average volume of 1,358,284. T. Rowe Price Group, Inc. has a 1 year low of $89.71 and a 1 year high of $125.81. The business's 50 day moving average is $104.61 and its 200-day moving average is $110.92. The company has a market capitalization of $20.35 billion, a P/E ratio of 10.00, a P/E/G ratio of 2.86 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS 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 20.83%. During the same period last year, the firm earned $1.72 EPS. Equities analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 5.55%. This is an increase from T. Rowe Price Group's previous quarterly dividend of $1.24. The ex-dividend date was Friday, March 14th. T. Rowe Price Group's dividend payout ratio is presently 55.46%.

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.