Claro Advisors LLC Lowers Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Claro Advisors LLC cut its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 21.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,222 shares of the asset manager’s stock after selling 1,742 shares during the quarter. Claro Advisors LLC’s holdings in T. Rowe Price Group were worth $704,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC lifted its stake in T. Rowe Price Group by 90.9% in the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after acquiring an additional 110 shares during the period. Hexagon Capital Partners LLC lifted its stake in T. Rowe Price Group by 54.7% in the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after acquiring an additional 104 shares during the period. True Wealth Design LLC purchased a new stake in T. Rowe Price Group in the third quarter worth about $37,000. Larson Financial Group LLC lifted its stake in T. Rowe Price Group by 866.7% in the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after acquiring an additional 312 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in T. Rowe Price Group in the third quarter worth about $43,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TROW has been the subject of several analyst reports. Barclays increased their price target on shares of T. Rowe Price Group from $110.00 to $115.00 and gave the company an “underweight” rating in a research report on Monday, December 9th. TD Cowen decreased their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research report on Monday, November 4th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. JPMorgan Chase & Co. decreased their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Finally, Wells Fargo & Company increased their price target on shares of T. Rowe Price Group from $112.00 to $124.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $116.55.

Insider Buying and Selling

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the sale, the vice president now owns 119,577 shares of the company’s stock, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their position. The sale 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 corporate insiders.

T. Rowe Price Group Trading Up 1.9 %

Shares of NASDAQ:TROW opened at $110.63 on Tuesday. T. Rowe Price Group, Inc. has a twelve month low of $100.49 and a twelve month high of $125.81. The company’s 50 day moving average is $118.17 and its 200 day moving average is $112.88. The company has a market cap of $24.58 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 1.73 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the company earned $2.17 EPS. T. Rowe Price Group’s quarterly revenue was up 6.9% on a year-over-year basis. Equities research analysts predict that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a $1.24 dividend. The ex-dividend date was Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.48%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 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.