abrdn plc Lowers Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

abrdn plc decreased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 12.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,103 shares of the asset manager's stock after selling 14,484 shares during the period. abrdn plc's holdings in T. Rowe Price Group were worth $11,315,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Willis Investment Counsel lifted its position in shares of T. Rowe Price Group by 0.3% during the fourth quarter. Willis Investment Counsel now owns 221,426 shares of the asset manager's stock worth $25,041,000 after acquiring an additional 572 shares in the last quarter. CENTRAL TRUST Co lifted its position in shares of T. Rowe Price Group by 10.3% during the fourth quarter. CENTRAL TRUST Co now owns 3,078 shares of the asset manager's stock worth $348,000 after acquiring an additional 288 shares in the last quarter. Symphony Financial Ltd. Co. lifted its position in shares of T. Rowe Price Group by 64.9% during the fourth quarter. Symphony Financial Ltd. Co. now owns 17,137 shares of the asset manager's stock worth $1,935,000 after acquiring an additional 6,742 shares in the last quarter. Blossom Wealth Management lifted its position in shares of T. Rowe Price Group by 5.1% during the fourth quarter. Blossom Wealth Management now owns 2,641 shares of the asset manager's stock worth $299,000 after acquiring an additional 128 shares in the last quarter. Finally, Waldron Private Wealth LLC lifted its position in shares of T. Rowe Price Group by 385.5% during the fourth quarter. Waldron Private Wealth LLC now owns 9,958 shares of the asset manager's stock worth $1,126,000 after acquiring an additional 7,907 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Stock Performance

TROW traded down $0.59 during trading on Tuesday, reaching $109.03. The stock had a trading volume of 1,040,987 shares, compared to its average volume of 1,573,199. The business has a 50-day moving average of $115.50 and a 200-day moving average of $112.50. T. Rowe Price Group, Inc. has a one year low of $100.49 and a one year high of $125.81. The stock has a market cap of $24.22 billion, a PE ratio of 11.90, a PEG ratio of 1.70 and a beta of 1.44.

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

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $1.27 per share. This is a positive change 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 4.66%. T. Rowe Price Group's dividend payout ratio is currently 54.15%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the sale, 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 SEC, which is available at this link. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wells Fargo & Company dropped their target price on T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 6th. StockNews.com cut shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Sunday, February 2nd. TD Cowen decreased their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a "hold" rating on the stock in a report on Monday, November 4th. Barclays decreased their price target on shares of T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating on the stock in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. decreased their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating on the stock in a report on Monday, November 4th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $115.09.

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.