T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock Holdings Lowered by Altus Wealth Group LLC

Altus Wealth Group LLC lessened its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,386 shares of the asset manager’s stock after selling 192 shares during the period. Altus Wealth Group LLC’s holdings in T. Rowe Price Group were worth $609,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Glenview Trust co grew its position in T. Rowe Price Group by 2.2% in the 4th quarter. Glenview Trust co now owns 4,318 shares of the asset manager’s stock worth $488,000 after purchasing an additional 92 shares during the last quarter. Choate Investment Advisors acquired a new position in shares of T. Rowe Price Group during the fourth quarter worth approximately $289,000. Natixis Advisors LLC grew its holdings in T. Rowe Price Group by 1.8% in the 4th quarter. Natixis Advisors LLC now owns 47,720 shares of the asset manager’s stock worth $5,397,000 after buying an additional 845 shares in the last quarter. Van Strum & Towne Inc. acquired a new stake in T. Rowe Price Group in the 4th quarter valued at approximately $252,000. Finally, Catalyst Funds Management Pty Ltd bought a new stake in T. Rowe Price Group during the 4th quarter valued at $204,000. 73.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the transaction, the vice president now directly owns 36,800 shares of the company’s stock, valued at $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $93.04 on Friday. The stock has a market capitalization of $20.71 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 1-year low of $91.37 and a 1-year high of $125.81. The company has a 50 day moving average price of $108.27 and a 200 day moving average price of $111.62.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period in the prior year, the business earned $1.72 EPS. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $1.27 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a yield of 5.46%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.46%.

Analyst Upgrades and Downgrades

TROW has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Wells Fargo & Company dropped their price target on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Barclays decreased their price objective on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Finally, Morgan Stanley dropped their target price on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and an average price target of $114.09.

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.