Gladstone Institutional Advisory LLC Trims Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Gladstone Institutional Advisory LLC lessened its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 20.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,522 shares of the asset manager’s stock after selling 922 shares during the period. Gladstone Institutional Advisory LLC’s holdings in T. Rowe Price Group were worth $379,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Creative Financial Designs Inc. ADV raised its holdings in T. Rowe Price Group by 83.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after buying an additional 106 shares during the period. First United Bank & Trust purchased a new stake in T. Rowe Price Group in the 4th quarter valued at about $31,000. Park Place Capital Corp raised its holdings in 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 valued at $32,000 after buying an additional 284 shares during the period. Fortitude Family Office LLC purchased a new stake in T. Rowe Price Group in the 4th quarter valued at about $33,000. Finally, NBC Securities Inc. purchased a new stake in T. Rowe Price Group in the 3rd quarter valued at about $39,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $116.91 on Friday. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76. The company has a market cap of $26.11 billion, a PE ratio of 13.88, a P/E/G ratio of 2.02 and a beta of 1.40. The business has a 50-day simple moving average of $114.98 and a 200-day simple moving average of $109.32.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the company posted $1.69 earnings per share. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 8.8 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 27th. Investors of record on Friday, June 14th will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date of this dividend is Friday, June 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is 58.91%.

Insider Activity at T. Rowe Price Group

In related news, 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 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 $2,493,357.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, 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 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 $2,493,357.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the sale, the director now owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

TROW has been the topic of several research analyst reports. Morgan Stanley boosted their price objective on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a report on Wednesday, April 17th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $106.00 to $120.00 in a research report on Thursday, April 11th. UBS Group lifted their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday, April 12th. Finally, Evercore ISI dropped their target price on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research report on Tuesday, April 30th. Four investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group presently has an average rating of “Hold” and an average price target of $112.10.

T. Rowe Price Group Company 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.