T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Eagle Ridge Investment Management

Eagle Ridge Investment Management lowered its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,626 shares of the asset manager’s stock after selling 452 shares during the quarter. Eagle Ridge Investment Management’s holdings in T. Rowe Price Group were worth $1,174,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in TROW. Massmutual Trust Co. FSB ADV grew its position in T. Rowe Price Group by 7.5% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock valued at $151,000 after acquiring an additional 86 shares during the period. ST Germain D J Co. Inc. grew its holdings in T. Rowe Price Group by 0.3% during the first quarter. ST Germain D J Co. Inc. now owns 31,065 shares of the asset manager’s stock valued at $3,787,000 after purchasing an additional 88 shares during the period. MCF Advisors LLC raised its holdings in T. Rowe Price Group by 1.6% in the first quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock worth $726,000 after purchasing an additional 92 shares during the period. Clear Harbor Asset Management LLC boosted its position in shares of T. Rowe Price Group by 3.2% during the fourth quarter. Clear Harbor Asset Management LLC now owns 3,240 shares of the asset manager’s stock worth $349,000 after purchasing an additional 100 shares in the last quarter. Finally, Caprock Group LLC grew its holdings in shares of T. Rowe Price Group by 4.7% in the 4th quarter. Caprock Group LLC now owns 2,251 shares of the asset manager’s stock valued at $242,000 after buying an additional 101 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In other news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the sale, the insider now directly owns 14,198 shares in the company, valued at approximately $1,644,838.30. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the transaction, the insider now directly owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert F. Maclellan sold 3,043 shares of the business’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 sale, the director now owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,444 shares of company stock worth $740,408. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. UBS Group upped their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a report on Friday, April 12th. JPMorgan Chase & Co. lifted their price target on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. TD Cowen raised T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their price objective for the stock from $92.00 to $114.00 in a research report on Monday, April 8th. Citigroup lifted their target price on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Finally, Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $106.00 to $120.00 in a research report on Thursday, April 11th. Four investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $112.10.

T. Rowe Price Group Stock Up 0.7 %

Shares of TROW traded up $0.75 during trading hours on Tuesday, hitting $114.60. 638,256 shares of the company were exchanged, compared to its average volume of 1,338,203. 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 cap of $25.59 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 1.97 and a beta of 1.42. The firm’s fifty day moving average is $115.03 and its 200 day moving average is $112.96.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.34. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. T. Rowe Price Group’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period last year, the company earned $1.69 EPS. Analysts anticipate that T. Rowe Price Group, Inc. will post 8.84 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Friday, June 14th were given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.33%. The ex-dividend date of this dividend was Friday, June 14th. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

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.