T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Brady Family Wealth LLC

Brady Family Wealth LLC cut its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 20,812 shares of the asset manager’s stock after selling 1,197 shares during the period. Brady Family Wealth LLC’s holdings in T. Rowe Price Group were worth $2,354,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in T. Rowe Price Group by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock valued at $745,169,000 after acquiring an additional 231,286 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of T. Rowe Price Group by 0.5% in the third quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager’s stock valued at $598,801,000 after purchasing an additional 25,481 shares during the period. Provident Trust Co. boosted its stake in shares of T. Rowe Price Group by 0.3% in the third quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager’s stock valued at $261,185,000 after purchasing an additional 7,905 shares during the period. Fisher Asset Management LLC grew its holdings in shares of T. Rowe Price Group by 2.6% in the third quarter. Fisher Asset Management LLC now owns 1,861,454 shares of the asset manager’s stock valued at $202,768,000 after purchasing an additional 47,998 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in T. Rowe Price Group by 2.5% during the 2nd quarter. ProShare Advisors LLC now owns 1,635,519 shares of the asset manager’s stock worth $188,592,000 after buying an additional 40,490 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

TROW has been the subject of several recent research reports. The Goldman Sachs Group decreased their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research report on Thursday, October 3rd. Barclays lifted their target price on T. Rowe Price Group from $110.00 to $115.00 and gave the company an “underweight” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods lowered their target price on T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a research note on Monday. Morgan Stanley increased their price target on T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Finally, TD Cowen lowered their price objective on 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. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and a consensus target price of $116.00.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now owns 119,577 shares of the company’s stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $113.32 on Thursday. The stock’s 50-day simple moving average is $118.12 and its 200-day simple moving average is $112.86. The firm has a market capitalization of $25.18 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 1.42 and a beta of 1.43. T. Rowe Price Group, Inc. has a fifty-two week low of $100.49 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.84 billion. During the same quarter last year, the company earned $2.17 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.46 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a $1.24 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.38%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.27%.

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.