T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Adirondack Trust Co.

Adirondack Trust Co. cut its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 24.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 285 shares of the asset manager’s stock after selling 90 shares during the period. Adirondack Trust Co.’s holdings in T. Rowe Price Group were worth $32,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Iron Horse Wealth Management LLC boosted its holdings 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 valued at $25,000 after purchasing an additional 110 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of T. Rowe Price Group by 54.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after buying an additional 104 shares during the period. True Wealth Design LLC purchased a new stake in shares of T. Rowe Price Group in the third quarter worth about $37,000. Larson Financial Group LLC grew its holdings in T. Rowe Price Group by 866.7% during 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 position in T. Rowe Price Group during the third quarter valued at approximately $43,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Trading Down 0.2 %

TROW stock opened at $113.54 on Thursday. T. Rowe Price Group, Inc. has a 12-month low of $100.49 and a 12-month high of $125.81. The business’s 50-day moving average is $117.44 and its 200 day moving average is $112.80. The stock has a market cap of $25.22 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.68 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 EPS for the quarter, topping the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the previous year, the business earned $2.17 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.45 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend was Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.27%.

Analyst Upgrades and Downgrades

TROW has been the topic of several recent research reports. Wells Fargo & Company lowered their price objective on T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. The Goldman Sachs Group lowered their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a report on Thursday, October 3rd. Keefe, Bruyette & Woods cut their price objective on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a report on Monday, January 13th. JPMorgan Chase & Co. lowered their target price on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $115.82.

Insider Transactions at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the sale, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. This represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.00% of the company’s stock.

About T. Rowe Price Group

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.