Wealthfront Advisers LLC Sells 22,660 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Wealthfront Advisers LLC cut its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 79.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,891 shares of the asset manager's stock after selling 22,660 shares during the period. Wealthfront Advisers LLC's holdings in T. Rowe Price Group were worth $666,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TROW. Nilsine Partners LLC lifted its holdings in T. Rowe Price Group by 75.5% in the fourth quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager's stock worth $623,000 after acquiring an additional 2,370 shares during the last quarter. Principal Financial Group Inc. raised its holdings in T. Rowe Price Group by 2.8% during the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager's stock worth $30,062,000 after purchasing an additional 7,503 shares in the last quarter. Amundi raised its holdings in T. Rowe Price Group by 30.1% during the fourth quarter. Amundi now owns 1,717,877 shares of the asset manager's stock worth $194,064,000 after purchasing an additional 397,278 shares in the last quarter. Janus Henderson Group PLC grew its position in T. Rowe Price Group by 3.8% in the third quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager's stock worth $3,267,000 after buying an additional 1,100 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in T. Rowe Price Group by 0.5% in the fourth quarter. Fisher Asset Management LLC now owns 1,870,446 shares of the asset manager's stock worth $211,529,000 after buying an additional 8,992 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In other news, VP Arif Husain sold 4,112 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the sale, the vice president now directly owns 36,800 shares of the company's stock, valued at $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is owned by insiders.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW traded down $1.05 during mid-day trading on Thursday, hitting $93.00. 1,399,647 shares of the stock were exchanged, compared to its average volume of 1,278,309. The company has a market cap of $20.70 billion, a P/E ratio of 10.15, a PEG ratio of 2.86 and a beta of 1.46. The stock's fifty day simple moving average is $107.10 and its two-hundred day simple moving average is $111.36. T. Rowe Price Group, Inc. has a twelve month low of $91.37 and a twelve month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data 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 return on equity of 20.83% and a net margin of 29.61%. During the same quarter last year, the business posted $1.72 EPS. As a group, equities research 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 business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $1.27 per share. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a dividend yield of 5.46%. The ex-dividend date is Friday, March 14th. T. Rowe Price Group's dividend payout ratio is 55.46%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TROW shares. 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. Wells Fargo & Company decreased their price objective on shares of T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating for the company in a report on Thursday, February 6th. Morgan Stanley decreased their price objective on shares of T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating for the company in a report on Monday, February 24th. Barclays decreased their price target on shares of 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. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and set a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $114.09.

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.