DF Dent & Co. Inc. Sells 6,233 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

DF Dent & Co. Inc. lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 7.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,887 shares of the asset manager's stock after selling 6,233 shares during the quarter. DF Dent & Co. Inc.'s holdings in T. Rowe Price Group were worth $8,356,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in T. Rowe Price Group by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager's stock valued at $2,947,559,000 after buying an additional 135,203 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of T. Rowe Price Group by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager's stock valued at $812,798,000 after purchasing an additional 346,369 shares in the last quarter. Geode Capital Management LLC grew its position in shares of T. Rowe Price Group by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager's stock valued at $635,260,000 after purchasing an additional 116,231 shares in the last quarter. Provident Trust Co. raised its stake in shares of T. Rowe Price Group by 8.9% during the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager's stock valued at $295,311,000 after purchasing an additional 213,566 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in T. Rowe Price Group by 0.5% during the 4th quarter. Fisher Asset Management LLC now owns 1,870,446 shares of the asset manager's stock worth $211,529,000 after purchasing an additional 8,992 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

Remove Ads

Insider Activity at T. Rowe Price Group

In related news, 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 value of $449,318.24. Following the sale, the vice president now owns 36,800 shares in the company, valued at $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert F. Maclellan sold 3,955 shares of the business's 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 transaction, the director now directly owns 42,979 shares in the company, valued at approximately $3,935,157.24. The trade was a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. StockNews.com lowered T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Sunday, February 2nd. Keefe, Bruyette & Woods reaffirmed 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 research note on Thursday, February 6th. Bank of America lowered their target price on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a research note on Thursday. Wells Fargo & Company reduced their price target on shares of T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. Finally, Barclays lowered 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. Five research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group currently has an average rating of "Hold" and a consensus price target of $108.50.

T. Rowe Price Group Trading Down 4.2 %

Shares of TROW traded down $3.62 during mid-day trading on Friday, reaching $82.60. The company's stock had a trading volume of 4,563,847 shares, compared to its average volume of 1,393,665. The stock has a market cap of $18.36 billion, a PE ratio of 9.02, a P/E/G ratio of 2.86 and a beta of 1.50. The company's fifty day moving average price is $102.18 and its two-hundred day moving average price is $110.31. T. Rowe Price Group, Inc. has a 52 week low of $82.34 and a 52 week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share 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 in the previous year, the firm earned $1.72 EPS. Research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 6.15%. This is an increase from T. Rowe Price Group's previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Friday, March 14th. T. Rowe Price Group's payout ratio is presently 55.46%.

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.