T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 13.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,329 shares of the asset manager's stock after selling 3,888 shares during the quarter. State of Alaska Department of Revenue's holdings in T. Rowe Price Group were worth $2,864,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in TROW. Insight Folios Inc grew its stake in shares of T. Rowe Price Group by 3.6% during the third quarter. Insight Folios Inc now owns 2,612 shares of the asset manager's stock valued at $285,000 after buying an additional 90 shares during the last quarter. Keystone Financial Services grew its stake in T. Rowe Price Group by 5.1% in the third quarter. Keystone Financial Services now owns 1,885 shares of the asset manager's stock worth $205,000 after purchasing an additional 92 shares in the last quarter. MCF Advisors LLC grew its stake in T. Rowe Price Group by 1.5% in the fourth 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. Nvwm LLC grew its stake in T. Rowe Price Group by 2.2% in the third quarter. Nvwm LLC now owns 4,496 shares of the asset manager's stock worth $490,000 after purchasing an additional 95 shares in the last quarter. Finally, Strategy Asset Managers LLC boosted its position in T. Rowe Price Group by 4.6% during the 3rd quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager's stock valued at $236,000 after acquiring an additional 95 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Barclays decreased their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating for the company in a report on Thursday, February 6th. JPMorgan Chase & Co. decreased their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating for the company in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased 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 increased their price objective on T. Rowe Price Group from $129.00 to $132.00 and gave the company an "equal weight" rating in a report on Friday, December 20th. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $113.00 price objective (up previously from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, T. Rowe Price Group has a consensus rating of "Hold" and an average target price of $115.09.

T. Rowe Price Group Trading Up 0.3 %

Shares of NASDAQ TROW traded up $0.32 during trading on Thursday, reaching $107.24. 1,586,365 shares of the company traded hands, compared to its average volume of 1,574,633. T. Rowe Price Group, Inc. has a 12-month low of $100.49 and a 12-month high of $125.81. The stock has a market cap of $23.82 billion, a P/E ratio of 11.71, a PEG ratio of 1.70 and a beta of 1.44. The firm's fifty day simple moving average is $114.89 and its 200 day simple moving average is $112.44.

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 20.91%. During the same period last year, the firm earned $1.72 EPS. As a group, research analysts expect that T. Rowe Price Group, Inc. will post 9.36 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $1.27 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.74%. T. Rowe Price Group's dividend payout ratio (DPR) is 54.15%.

Insider Activity

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, December 10th. The shares were 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. The trade was a 3.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Arif Husain sold 4,112 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the sale, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their position. The disclosure for this sale can be found here. 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.