T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Groesbeck Investment Management Corp NJ

Groesbeck Investment Management Corp NJ lowered its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 10.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 13,560 shares of the asset manager’s stock after selling 1,505 shares during the quarter. T. Rowe Price Group comprises 2.0% of Groesbeck Investment Management Corp NJ’s holdings, making the stock its 13th largest position. Groesbeck Investment Management Corp NJ’s holdings in T. Rowe Price Group were worth $1,460,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PCA Investment Advisory Services Inc. acquired a new position in shares of T. Rowe Price Group during the second quarter worth $26,000. Creative Financial Designs Inc. ADV boosted its stake in T. Rowe Price Group by 83.5% in the fourth 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 in the last quarter. OFI Invest Asset Management acquired a new position in T. Rowe Price Group in the third quarter valued at $25,000. Park Place Capital Corp boosted its stake in T. Rowe Price Group by 1,775.0% in the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 284 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new position in T. Rowe Price Group in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Down 1.2 %

NASDAQ TROW traded down $1.34 during trading hours on Thursday, hitting $110.05. 868,321 shares of the stock were exchanged, compared to its average volume of 1,386,014. The company has a market cap of $24.61 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 2.16 and a beta of 1.40. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $132.76. The stock has a 50-day moving average of $114.67 and a 200 day moving average of $106.69.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.12. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the company posted $1.74 earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts expect that T. Rowe Price Group, Inc. will post 8.13 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $1.24 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.22. This represents a $4.96 dividend on an annualized basis and a yield of 4.51%. T. Rowe Price Group’s dividend payout ratio (DPR) is 63.92%.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on TROW. Wells Fargo & Company upped their price objective on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. increased their target price on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research note on Tuesday. UBS Group increased 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 research note on Friday, April 12th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Finally, Citigroup increased their target price on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Four analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group has an average rating of “Hold” and an average price target of $112.67.

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.