Birch Capital Management LLC Reduces Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Birch Capital Management LLC reduced its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 24.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,565 shares of the asset manager's stock after selling 4,600 shares during the quarter. Birch Capital Management LLC's holdings in T. Rowe Price Group were worth $1,647,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its stake in shares of T. Rowe Price Group by 7,992.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager's stock worth $116,300,000 after purchasing an additional 1,054,461 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of T. Rowe Price Group by 382.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager's stock valued at $43,373,000 after acquiring an additional 315,581 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of T. Rowe Price Group by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager's stock worth $745,169,000 after purchasing an additional 231,286 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in T. Rowe Price Group by 15.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager's stock worth $185,810,000 after acquiring an additional 220,105 shares during the period. Finally, AQR Capital Management LLC raised its holdings in T. Rowe Price Group by 77.2% in the 2nd quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager's stock valued at $52,032,000 after acquiring an additional 196,565 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the 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 owns 119,577 shares in the company, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on TROW shares. StockNews.com cut T. Rowe Price Group from a "buy" rating to a "hold" rating in a research report on Saturday, December 28th. Barclays lifted their price objective on shares of T. Rowe Price Group from $110.00 to $115.00 and gave the company an "underweight" rating in a research note on Monday, December 9th. The Goldman Sachs Group cut their target price on T. Rowe Price Group from $106.00 to $102.00 and set a "sell" rating for the company in a research note on Thursday, October 3rd. Wells Fargo & Company lifted their price target on T. Rowe Price Group from $112.00 to $124.00 and gave the company an "equal weight" rating in a research note on Thursday, December 12th. Finally, Keefe, Bruyette & Woods increased their target price on shares of T. Rowe Price Group from $114.00 to $116.00 and gave the stock a "market perform" rating in a report on Friday, December 20th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $117.00.

T. Rowe Price Group Stock Down 1.1 %

T. Rowe Price Group stock traded down $1.21 during mid-day trading on Tuesday, hitting $113.12. 1,180,766 shares of the stock were exchanged, compared to its average volume of 1,043,116. The stock has a market capitalization of $25.13 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 1.73 and a beta of 1.43. T. Rowe Price Group, Inc. has a 12 month low of $100.49 and a 12 month high of $125.81. The firm's fifty day simple moving average is $118.18 and its two-hundred day simple moving average is $113.08.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the firm earned $2.17 earnings per share. The company's revenue was up 6.9% compared to the same quarter last year. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date of this dividend was Friday, December 13th. T. Rowe Price Group's dividend payout ratio is currently 54.27%.

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.