American International Group Inc. Lowers Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

American International Group Inc. decreased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) by 0.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 81,794 shares of the asset manager’s stock after selling 628 shares during the period. American International Group Inc.’s holdings in T. Rowe Price Group were worth $16,084,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Covestor Ltd bought a new stake in T. Rowe Price Group during the 4th quarter valued at $27,000. Amplius Wealth Advisors LLC purchased a new stake in T. Rowe Price Group in the 4th quarter worth approximately $29,000. Sandy Cove Advisors LLC acquired a new position in T. Rowe Price Group in the 4th quarter worth about $32,000. Jones Financial Companies Lllp lifted its stake in T. Rowe Price Group by 91.2% in the third quarter. Jones Financial Companies Lllp now owns 174 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 83 shares during the last quarter. Finally, Baystate Wealth Management LLC raised its stake in shares of T. Rowe Price Group by 686.4% in the 4th quarter. Baystate Wealth Management LLC now owns 173 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 151 shares in the last quarter. Institutional investors own 71.80% of the company’s stock.

TROW opened at $120.34 on Wednesday. The stock’s 50 day moving average price is $137.02 and its 200-day moving average price is $162.22. T. Rowe Price Group, Inc. has a 52-week low of $112.65 and a 52-week high of $224.55. The stock has a market capitalization of $27.35 billion, a PE ratio of 9.74, a price-to-earnings-growth ratio of 1.89 and a beta of 1.34.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last released its earnings results on Thursday, April 28th. The asset manager reported $2.62 EPS for the quarter, missing analysts’ consensus estimates of $2.76 by ($0.14). T. Rowe Price Group had a return on equity of 33.38% and a net margin of 37.64%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the company posted $3.01 earnings per share. The company’s revenue was up 2.0% on a year-over-year basis. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 10.74 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 29th. Stockholders of record on Wednesday, June 15th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.99%. The ex-dividend date is Tuesday, June 14th. T. Rowe Price Group’s payout ratio is currently 38.83%.

In related news, insider Jessica M. Hiebler sold 730 shares of the business’s stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $125.00, for a total value of $91,250.00. Following the sale, the insider now directly owns 13,089 shares in the company, valued at $1,636,125. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jessica M. Hiebler sold 1,260 shares of the firm’s stock in a transaction that occurred on Monday, February 28th. The shares were sold at an average price of $143.65, for a total value of $180,999.00. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Several analysts recently commented on TROW shares. Deutsche Bank Aktiengesellschaft decreased their price target on T. Rowe Price Group from $142.00 to $126.00 in a research note on Thursday, May 19th. StockNews.com began coverage on T. Rowe Price Group in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Citigroup dropped their price target on T. Rowe Price Group from $110.00 to $90.00 in a research report on Friday, April 29th. BMO Capital Markets dropped their target price on T. Rowe Price Group from $204.00 to $160.00 and set an “outperform” rating on the stock in a research report on Monday, May 2nd. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $156.00 price target on shares of T. Rowe Price Group in a research note on Monday, April 11th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $168.27.

About T. Rowe Price Group (Get Rating)

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.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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