T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Symphony Financial Ltd. Co.

Symphony Financial Ltd. Co. trimmed its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 76.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,693 shares of the asset manager’s stock after selling 5,480 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in T. Rowe Price Group were worth $206,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of TROW. Morgan Stanley lifted its holdings in shares of T. Rowe Price Group by 0.7% in the 3rd quarter. Morgan Stanley now owns 3,483,350 shares of the asset manager’s stock worth $365,299,000 after acquiring an additional 25,012 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of T. Rowe Price Group by 6.7% in the 4th quarter. Fisher Asset Management LLC now owns 1,752,005 shares of the asset manager’s stock worth $188,674,000 after acquiring an additional 109,653 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of T. Rowe Price Group by 21.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,352,683 shares of the asset manager’s stock worth $145,685,000 after acquiring an additional 236,697 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of T. Rowe Price Group by 1.3% in the 4th quarter. First Trust Advisors LP now owns 1,173,858 shares of the asset manager’s stock worth $126,413,000 after acquiring an additional 15,504 shares during the last quarter. Finally, Confluence Investment Management LLC acquired a new position in shares of T. Rowe Price Group in the 1st quarter worth approximately $130,386,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Trading Down 0.1 %

NASDAQ:TROW traded down $0.12 during midday trading on Friday, hitting $115.31. 1,598,508 shares of the company were exchanged, compared to its average volume of 1,018,934. The company has a fifty day simple moving average of $114.98 and a 200 day simple moving average of $112.85. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $132.76. The company has a market capitalization of $25.75 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 1.97 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.34. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.69 earnings per share. As a group, equities research analysts expect that T. Rowe Price Group, Inc. will post 8.84 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Friday, June 14th were issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend was Friday, June 14th. T. Rowe Price Group’s payout ratio is 58.91%.

Analyst Ratings Changes

A number of research firms have issued reports on TROW. Evercore ISI reduced their target price on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a report on Tuesday, April 30th. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $106.00 to $120.00 in a report on Thursday, April 11th. Morgan Stanley increased their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 17th. UBS Group increased their target price on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Finally, JPMorgan Chase & Co. increased their target price on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $112.10.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the sale, the director now owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the sale, the insider now owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the sale, the director now directly owns 34,635 shares in the company, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. Insiders have sold a total of 6,444 shares of company stock valued at $740,408 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

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.