T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock Position Trimmed by Bamco Inc. NY

Bamco Inc. NY cut its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 171,272 shares of the asset manager’s stock after selling 14,248 shares during the quarter. Bamco Inc. NY owned about 0.08% of T. Rowe Price Group worth $20,881,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. First United Bank & Trust bought a new stake in T. Rowe Price Group in the 4th quarter valued at about $31,000. Park Place Capital Corp raised its position 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 buying an additional 284 shares in the last quarter. CVA Family Office LLC bought a new stake in shares of T. Rowe Price Group during the 4th quarter worth about $39,000. Signature Resources Capital Management LLC bought a new stake in shares of T. Rowe Price Group during the 4th quarter worth about $39,000. Finally, Scarborough Advisors LLC bought a new stake in shares of T. Rowe Price Group during the 4th quarter worth about $47,000. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Down 3.0 %

Shares of T. Rowe Price Group stock traded down $3.41 during trading on Friday, hitting $112.08. The stock had a trading volume of 1,972,652 shares, compared to its average volume of 900,273. The stock has a 50 day simple moving average of $116.47 and a 200 day simple moving average of $114.14. The company has a market capitalization of $25.03 billion, a PE ratio of 13.31, a P/E/G ratio of 1.63 and a beta of 1.42. 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 released its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.01. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period last year, the firm posted $2.02 earnings per share. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 8.98 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend was Friday, June 14th. T. Rowe Price Group’s payout ratio is presently 58.91%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Citigroup boosted their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. StockNews.com upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Wednesday, July 10th. Keefe, Bruyette & Woods boosted their target price on shares of T. Rowe Price Group from $120.00 to $121.00 and gave the stock a “market perform” rating in a report on Friday, July 12th. Evercore ISI dropped 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. Finally, UBS Group boosted 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. Four research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $113.50.

Insider Activity at T. Rowe Price Group

In related news, 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 transaction, the director now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the sale, the vice president now directly owns 34,710 shares in the company, valued at $4,061,070. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group 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 completion of 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 three months, insiders have sold 6,444 shares of company stock valued at $740,408. Corporate 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.