T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Adirondack Trust Co.

Adirondack Trust Co. cut its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 24.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 285 shares of the asset manager’s stock after selling 90 shares during the quarter. Adirondack Trust Co.’s holdings in T. Rowe Price Group were worth $32,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC raised its position in shares of T. Rowe Price Group by 7,992.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock valued at $116,300,000 after buying an additional 1,054,461 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in T. Rowe Price Group by 382.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock worth $43,373,000 after acquiring an additional 315,581 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in T. Rowe Price Group by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock valued at $745,169,000 after purchasing an additional 231,286 shares during the period. AQR Capital Management LLC lifted its stake in shares of T. Rowe Price Group by 77.2% in the 2nd quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock valued at $52,032,000 after purchasing an additional 196,565 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of T. Rowe Price Group by 45.1% during the 3rd quarter. Franklin Resources Inc. now owns 490,155 shares of the asset manager’s stock worth $53,760,000 after purchasing an additional 152,430 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TROW has been the topic of several research analyst reports. TD Cowen reduced their price objective on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Evercore ISI upped their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. The Goldman Sachs Group dropped their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft upped their price target on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Finally, Morgan Stanley raised their price target on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. 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, the stock has an average rating of “Hold” and a consensus price target of $115.82.

Insider Transactions at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the sale, the vice president now owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $113.54 on Thursday. The company has a market cap of $25.22 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 1.68 and a beta of 1.43. The stock’s 50-day moving average is $117.44 and its two-hundred day moving average is $112.80. T. Rowe Price Group, Inc. has a 1-year low of $100.49 and a 1-year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the firm earned $2.17 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.45 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a $1.24 dividend. The ex-dividend date was Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.37%. T. Rowe Price Group’s payout ratio is 54.27%.

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.