T. Rowe Price Group, Inc. (NASDAQ:TROW) Stake Lowered by UBS Group AG

UBS Group AG reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Rating) by 51.1% during the 4th quarter, HoldingsChannel reports. The fund owned 138,881 shares of the asset manager’s stock after selling 144,898 shares during the period. UBS Group AG’s holdings in T. Rowe Price Group were worth $15,146,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Zullo Investment Group Inc. boosted its holdings in T. Rowe Price Group by 164.6% in the third quarter. Zullo Investment Group Inc. now owns 254 shares of the asset manager’s stock worth $27,000 after purchasing an additional 158 shares in the last quarter. Beacon Capital Management LLC increased its position in T. Rowe Price Group by 61.3% during the fourth quarter. Beacon Capital Management LLC now owns 250 shares of the asset manager’s stock worth $27,000 after buying an additional 95 shares during the last quarter. Eisler Capital UK Ltd. acquired a new position in T. Rowe Price Group during the third quarter worth $29,000. Asset Dedication LLC increased its position in T. Rowe Price Group by 173.8% during the fourth quarter. Asset Dedication LLC now owns 293 shares of the asset manager’s stock worth $32,000 after buying an additional 186 shares during the last quarter. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in T. Rowe Price Group during the fourth quarter worth $32,000. 76.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. BMO Capital Markets lowered their target price on shares of T. Rowe Price Group from $105.00 to $90.00 and set a “market perform” rating on the stock in a research report on Friday, January 27th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of T. Rowe Price Group from $121.00 to $113.00 and set a “hold” rating for the company in a report on Friday, January 27th. Credit Suisse Group decreased their price target on shares of T. Rowe Price Group from $70.00 to $65.00 and set an “underperform” rating for the company in a report on Friday, January 27th. TheStreet cut shares of T. Rowe Price Group from a “b-” rating to a “c” rating in a report on Thursday, January 26th. Finally, 22nd Century Group restated a “maintains” rating on shares of T. Rowe Price Group in a report on Wednesday, May 3rd. Six investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and an average price target of $93.73.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $106.61 on Friday. The firm has a 50-day simple moving average of $109.09 and a 200 day simple moving average of $113.98. T. Rowe Price Group, Inc. has a twelve month low of $93.53 and a twelve month high of $134.64. The stock has a market cap of $23.94 billion, a PE ratio of 17.45, a PEG ratio of 2.71 and a beta of 1.30.

T. Rowe Price Group (NASDAQ:TROW – Get Rating) last announced its quarterly earnings results on Tuesday, May 2nd. The asset manager reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.07. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.54 billion. T. Rowe Price Group had a net margin of 22.90% and a return on equity of 17.92%. The company’s revenue for the quarter was down 17.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.62 earnings per share. Research analysts forecast that T. Rowe Price Group, Inc. will post 6.63 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 29th. Shareholders of record on Thursday, June 15th will be paid a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend is Wednesday, June 14th. T. Rowe Price Group’s dividend payout ratio is 79.87%.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $114.52, for a total transaction of $1,370,689.88. Following the completion of the transaction, the vice president now owns 129,436 shares in the company, valued at $14,823,010.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Jessica M. Hiebler sold 1,881 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $106.66, for a total transaction of $200,627.46. Following the completion of the sale, the insider now owns 11,628 shares of the company’s stock, valued at $1,240,242.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $114.52, for a total transaction of $1,370,689.88. Following the sale, the vice president now directly owns 129,436 shares of the company’s stock, valued at approximately $14,823,010.72. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

About T. Rowe Price Group

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T. Rowe Price Group, Inc engages in the provision of investment management services. The company was founded by Thomas Rowe Price Jr. in 1937 and is headquartered in Baltimore, MD.