WASHINGTON TRUST Co Decreases Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

WASHINGTON TRUST Co lessened its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 42.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 465 shares of the asset manager’s stock after selling 340 shares during the period. WASHINGTON TRUST Co’s holdings in T. Rowe Price Group were worth $50,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Simmons Bank increased its stake in shares of T. Rowe Price Group by 23.0% in the third quarter. Simmons Bank now owns 3,503 shares of the asset manager’s stock worth $367,000 after purchasing an additional 656 shares in the last quarter. Nordea Investment Management AB raised its holdings in T. Rowe Price Group by 3.5% during the 4th quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock valued at $34,299,000 after acquiring an additional 10,680 shares during the period. Vest Financial LLC lifted its position in shares of T. Rowe Price Group by 48.8% during the fourth quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock worth $30,213,000 after acquiring an additional 92,059 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of T. Rowe Price Group in the second quarter worth $1,196,000. Finally, Nomura Asset Management Co. Ltd. grew its position in shares of T. Rowe Price Group by 11.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 297,846 shares of the asset manager’s stock valued at $31,235,000 after purchasing an additional 30,899 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the sale, the insider now directly owns 14,113 shares in the company, valued at $1,511,925.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the sale, the insider now owns 14,113 shares in the company, valued at approximately $1,511,925.69. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the transaction, the director now owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on TROW shares. UBS Group raised 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. TD Cowen assumed coverage on shares of T. Rowe Price Group in a report on Thursday, January 4th. They set an “underperform” rating and a $88.00 target price on the stock. JPMorgan Chase & Co. raised their price target on shares of T. Rowe Price Group from $90.00 to $94.00 and gave the company an “underweight” rating in a report on Friday, February 9th. Wells Fargo & Company increased their price objective on T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a research report on Friday, February 9th. Finally, Morgan Stanley raised their price target on T. Rowe Price Group from $101.00 to $106.00 and gave the company an “equal weight” rating in a report on Friday, January 19th. Six equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, T. Rowe Price Group currently has an average rating of “Reduce” and a consensus price target of $97.30.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $121.92 on Friday. The business’s 50-day moving average is $112.42 and its 200 day moving average is $105.66. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $132.76. The stock has a market capitalization of $27.27 billion, a PE ratio of 15.71, a PEG ratio of 2.41 and a beta of 1.39.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.12. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the firm earned $1.74 earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 7.75 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $1.24 per share. The ex-dividend date was Thursday, March 14th. This represents a $4.96 annualized dividend and a yield of 4.07%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s dividend payout ratio is currently 63.92%.

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.