Folger Nolan Fleming Douglas Capital Management Inc. Cuts Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Folger Nolan Fleming Douglas Capital Management Inc. trimmed its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 89,997 shares of the asset manager’s stock after selling 1,097 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in T. Rowe Price Group were worth $8,268,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of T. Rowe Price Group in the 4th quarter worth $117,704,000. Marshall Wace LLP purchased a new position in shares of T. Rowe Price Group in the 4th quarter worth $63,284,000. Fayez Sarofim & Co grew its stake in shares of T. Rowe Price Group by 7.6% in the 4th quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager’s stock worth $684,474,000 after buying an additional 425,142 shares in the last quarter. Amundi grew its stake in shares of T. Rowe Price Group by 30.1% in the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock worth $194,064,000 after buying an additional 397,278 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of T. Rowe Price Group by 28.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,762,910 shares of the asset manager’s stock worth $199,367,000 after buying an additional 387,604 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 968 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the sale, the insider now owns 13,611 shares in the company, valued at approximately $1,319,994.78. The trade was a 6.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total transaction of $190,860.00. Following the completion of the sale, the vice president now owns 44,789 shares of the company’s stock, valued at approximately $4,274,214.27. This represents a 4.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,923 shares of company stock worth $646,856 in the last 90 days. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Trading Down 0.5%

TROW stock opened at $94.58 on Friday. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The company has a 50-day moving average price of $91.43 and a 200 day moving average price of $102.81. The stock has a market cap of $20.84 billion, a PE ratio of 10.33, a P/E/G ratio of 2.86 and a beta of 1.49.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the business posted $2.38 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a dividend of $1.27 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a yield of 5.37%. T. Rowe Price Group’s payout ratio is 57.60%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TROW shares. The Goldman Sachs Group dropped their price objective on shares of T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating for the company in a research note on Monday, April 14th. TD Cowen dropped their price objective on shares of T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, April 9th. Citigroup dropped their price objective on shares of T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Morgan Stanley lifted their price objective on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 6th. Finally, Barclays lifted their price target on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the stock an “underweight” rating in a research note on Monday, May 5th. Four analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $94.09.

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.