Kingsview Wealth Management LLC Sells 3,903 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Kingsview Wealth Management LLC reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 52.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,471 shares of the asset manager’s stock after selling 3,903 shares during the quarter. Kingsview Wealth Management LLC’s holdings in T. Rowe Price Group were worth $374,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TROW. Creative Financial Designs Inc. ADV lifted its position in T. Rowe Price Group by 83.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 106 shares during the period. First United Bank & Trust purchased a new position in shares of T. Rowe Price Group during the fourth quarter valued at approximately $31,000. Park Place Capital Corp boosted its position in shares of T. Rowe Price Group by 1,775.0% in the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after purchasing an additional 284 shares in the last quarter. Fortitude Family Office LLC bought a new stake in shares of T. Rowe Price Group in the 4th quarter worth approximately $33,000. Finally, NBC Securities Inc. purchased a new stake in shares of T. Rowe Price Group in the 3rd quarter worth approximately $39,000. 73.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on TROW shares. Citigroup lifted their price objective on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Wells Fargo & Company lifted their price target 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. TD Cowen raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their price objective for the company from $92.00 to $114.00 in a research report on Monday, April 8th. UBS Group lifted their target price on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Finally, Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their target price for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. Four analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $112.10.

Insider Activity

In related news, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the transaction, the director now directly owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the sale, the director now directly owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The transaction was disclosed in a legal filing 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 dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the transaction, the director now directly owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $117.63 on Wednesday. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76. The stock has a fifty day moving average of $114.93 and a 200 day moving average of $109.20. The stock has a market cap of $26.27 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 2.01 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, beating the consensus estimate of $2.04 by $0.34. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.69 EPS. As a group, sell-side analysts predict that T. Rowe Price Group, Inc. will post 8.8 EPS 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 27th. Stockholders of record on Friday, June 14th will be paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.22%. The ex-dividend date is Friday, June 14th. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

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.