OLD Point Trust & Financial Services N A Sells 250 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

OLD Point Trust & Financial Services N A decreased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.6% during the fourth quarter, Holdings Channel reports. The firm owned 9,465 shares of the asset manager’s stock after selling 250 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in T. Rowe Price Group were worth $1,070,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Addison Advisors LLC lifted its holdings in shares of T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after buying an additional 93 shares during the period. Curio Wealth LLC bought a new stake in shares of T. Rowe Price Group in the fourth quarter worth $27,000. Y.D. More Investments Ltd increased its position in T. Rowe Price Group by 124.0% during the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 155 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in T. Rowe Price Group in the fourth quarter valued at about $32,000. Finally, Advantage Trust Co boosted its position in T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the sale, the vice president now owns 36,800 shares of the company’s stock, valued at $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The transaction 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 Price Performance

TROW stock opened at $94.05 on Thursday. The company has a market capitalization of $20.94 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 1-year low of $91.37 and a 1-year high of $125.81. The business has a 50 day simple moving average of $107.10 and a two-hundred day simple moving average of $111.36.

T. Rowe Price Group (NASDAQ:TROW) last posted its 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 20.83%. During the same quarter in the previous year, the firm earned $1.72 EPS. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal 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 given a $1.27 dividend. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.40%. The ex-dividend date is Friday, March 14th. T. Rowe Price Group’s payout ratio is currently 55.46%.

Analyst Ratings Changes

TROW has been the subject of several research reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Barclays dropped 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. Wells Fargo & Company reduced their price objective on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Finally, Morgan Stanley lowered their target price on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. 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, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus target price of $114.09.

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.