Sigma Planning Corp Sells 493 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Sigma Planning Corp trimmed its position in T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 3.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 12,809 shares of the asset manager’s stock after selling 493 shares during the quarter. Sigma Planning Corp’s holdings in T. Rowe Price Group were worth $1,343,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TROW. Bank Julius Baer & Co. Ltd Zurich increased its position in T. Rowe Price Group by 98,548.0% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,336,567 shares of the asset manager’s stock valued at $485,782,000 after buying an additional 4,332,171 shares in the last quarter. Norges Bank bought a new stake in T. Rowe Price Group during the 4th quarter worth approximately $208,014,000. Vanguard Group Inc. increased its holdings in T. Rowe Price Group by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 20,183,563 shares of the asset manager’s stock worth $3,051,553,000 after purchasing an additional 625,340 shares in the last quarter. Bank of Montreal Can bought a new stake in T. Rowe Price Group during the 2nd quarter worth approximately $69,862,000. Finally, Morgan Stanley increased its holdings in T. Rowe Price Group by 15.0% during the 4th quarter. Morgan Stanley now owns 3,342,735 shares of the asset manager’s stock worth $364,559,000 after purchasing an additional 436,365 shares in the last quarter. 75.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TROW has been the subject of a number of recent research reports. Wells Fargo & Company reissued an “underweight” rating and set a $105.00 price objective (up from $95.00) on shares of T. Rowe Price Group in a report on Monday, January 8th. Citigroup raised T. Rowe Price Group from a “sell” rating to a “neutral” rating and decreased their price objective for the stock from $100.00 to $95.00 in a report on Tuesday, October 31st. Deutsche Bank Aktiengesellschaft cut their target price on T. Rowe Price Group from $113.00 to $110.00 and set a “hold” rating on the stock in a research note on Wednesday, October 11th. UBS Group boosted their target price on T. Rowe Price Group from $86.00 to $102.00 and gave the stock a “sell” rating in a research note on Wednesday, January 10th. Finally, Morgan Stanley boosted their target price on T. Rowe Price Group from $101.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Friday, January 19th. Five research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $97.33.

Check Out Our Latest Stock Report on T. Rowe Price Group

Insider Activity at T. Rowe Price Group

In related news, VP Robert C.T. Higginbotham sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $96.52, for a total value of $3,860,800.00. Following the transaction, the vice president now owns 30,855 shares in the company, valued at $2,978,124.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other T. Rowe Price Group news, VP Robert C.T. Higginbotham sold 40,000 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $96.52, for a total transaction of $3,860,800.00. Following the sale, the vice president now owns 30,855 shares in the company, valued at $2,978,124.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider William J. Stromberg sold 10,000 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $98.48, for a total value of $984,800.00. Following the sale, the insider now owns 49,000 shares in the company, valued at approximately $4,825,520. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,320 shares of company stock worth $7,237,878. Insiders own 2.10% of the company’s stock.

T. Rowe Price Group Trading Up 0.1 %

T. Rowe Price Group stock opened at $111.71 on Wednesday. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $132.76. The business’s 50 day simple moving average is $105.45 and its 200 day simple moving average is $106.01. The company has a market cap of $24.93 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 2.53 and a beta of 1.36.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Friday, March 15th will be paid a $1.24 dividend. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. This represents a $4.96 annualized dividend and a yield of 4.44%. T. Rowe Price Group’s dividend payout ratio is presently 69.52%.

About T. Rowe Price Group

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report).

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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