T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Cadence Bank

Cadence Bank lowered its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,069 shares of the asset manager’s stock after selling 191 shares during the quarter. Cadence Bank’s holdings in T. Rowe Price Group were worth $1,026,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Addison Advisors LLC increased its stake in T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 93 shares in the last quarter. Curio Wealth LLC purchased a new position in T. Rowe Price Group in the 4th quarter worth $27,000. Y.D. More Investments Ltd lifted its position in T. Rowe Price Group by 124.0% during the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after acquiring an additional 155 shares during the period. Stonebridge Financial Group LLC purchased a new stake in T. Rowe Price Group during the 4th quarter valued at about $32,000. Finally, Advantage Trust Co raised its stake in shares of T. Rowe Price Group by 48.8% in the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after purchasing an additional 100 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TROW shares. The Goldman Sachs Group reduced their price target on shares of T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating for the company in a research report on Monday, April 14th. Morgan Stanley lowered 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 research note on Monday, February 24th. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Evercore ISI lowered their price target on shares of T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating on the stock in a report on Friday, April 11th. Finally, Bank of America dropped their target price on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a research report on Thursday, April 3rd. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Hold” and an average target price of $96.00.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $86.11 on Friday. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The stock has a market cap of $19.14 billion, a PE ratio of 9.40, a P/E/G ratio of 2.86 and a beta of 1.50. The stock has a 50 day moving average price of $95.65 and a 200 day moving average price of $108.40.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS 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 previous year, the business posted $1.72 EPS. As a group, analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $1.27 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a yield of 5.90%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s payout ratio is currently 55.46%.

Insider Activity

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,955 shares of the company’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the transaction, the director now directly owns 42,979 shares in the company, valued at $3,935,157.24. This represents a 8.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction 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 completion of the sale, the vice president now directly owns 36,800 shares of the company’s stock, valued at $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

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.