AFT Forsyth & Company Inc. Cuts Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

AFT Forsyth & Company Inc. decreased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 15.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,400 shares of the asset manager’s stock after selling 621 shares during the period. AFT Forsyth & Company Inc.’s holdings in T. Rowe Price Group were worth $385,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of T. Rowe Price Group by 3.5% during 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 purchasing an additional 231,286 shares during the last quarter. Geode Capital Management LLC grew its stake in T. Rowe Price Group by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager’s stock worth $598,801,000 after buying an additional 25,481 shares during the last quarter. Provident Trust Co. increased its position in T. Rowe Price Group by 0.3% during the 3rd quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager’s stock valued at $261,185,000 after buying an additional 7,905 shares in the last quarter. Fisher Asset Management LLC raised its stake in 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 buying an additional 47,998 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in T. Rowe Price Group by 4.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,375,306 shares of the asset manager’s stock worth $149,812,000 after acquiring an additional 53,997 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TROW has been the topic of several recent analyst reports. Evercore ISI upped their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Barclays cut their price target on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. Morgan Stanley raised their price target on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. JPMorgan Chase & Co. dropped their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Finally, TD Cowen reduced their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $115.09.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $106.92 on Thursday. The firm has a market capitalization of $23.75 billion, a P/E ratio of 11.67, a PEG ratio of 1.70 and a beta of 1.44. The stock has a 50-day simple moving average of $115.21 and a two-hundred day simple moving average of $112.48. 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 announced its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.91%. During the same period in the previous year, the firm earned $1.72 EPS. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 9.36 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $1.27 dividend. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a dividend yield of 4.75%. The ex-dividend date is Friday, March 14th. T. Rowe Price Group’s payout ratio is currently 54.15%.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the sale, the vice president now owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Arif Husain sold 4,112 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the transaction, the vice president now directly owns 36,800 shares of the company’s stock, valued at $4,021,136. The trade was a 10.05 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group 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.