Congress Asset Management Co. MA Lowers Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Congress Asset Management Co. MA lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 9.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 125,332 shares of the asset manager’s stock after selling 13,707 shares during the quarter. Congress Asset Management Co. MA owned 0.06% of T. Rowe Price Group worth $13,497,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV boosted its stake in shares of T. Rowe Price Group by 83.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after acquiring an additional 106 shares in the last quarter. First United Bank & Trust purchased a new stake in shares of T. Rowe Price Group during the 4th quarter worth approximately $31,000. Park Place Capital Corp boosted its stake in shares of T. Rowe Price Group by 1,775.0% during the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after acquiring an additional 284 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in shares of T. Rowe Price Group during the 4th quarter worth approximately $33,000. Finally, CVA Family Office LLC purchased a new stake in shares of T. Rowe Price Group during the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Down 0.4 %

Shares of TROW stock traded down $0.43 on Friday, reaching $114.90. 768,641 shares of the stock were exchanged, compared to its average volume of 1,030,854. The firm has a 50 day moving average of $114.37 and a two-hundred day moving average of $111.74. The stock has a market cap of $25.66 billion, a P/E ratio of 13.65, a price-to-earnings-growth ratio of 1.96 and a beta of 1.43. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the company posted $1.69 EPS. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 8.84 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be paid a dividend of $1.24 per share. The ex-dividend date is Friday, June 14th. This represents a $4.96 annualized dividend and a yield of 4.32%. T. Rowe Price Group’s dividend payout ratio (DPR) is 58.91%.

Analyst Ratings Changes

TROW has been the topic of a number of recent research reports. UBS Group upped their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Citigroup upped their target price on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their target price for the company from $106.00 to $120.00 in a research note on Thursday, April 11th. Morgan Stanley upped their target price on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. Finally, TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and boosted their price target for the company from $92.00 to $114.00 in a report on Monday, April 8th. Four equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $112.10.

Insider Buying and Selling at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the transaction, the director now owns 34,635 shares in the company, valued at $3,916,525.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is owned by company insiders.

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.