T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Forvis Mazars Wealth Advisors LLC

Forvis Mazars Wealth Advisors LLC lowered its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,158 shares of the asset manager’s stock after selling 595 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in T. Rowe Price Group were worth $1,601,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Private Advisor Group LLC lifted its position in T. Rowe Price Group by 10.4% during the 3rd quarter. Private Advisor Group LLC now owns 12,060 shares of the asset manager’s stock worth $1,314,000 after acquiring an additional 1,134 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in shares of T. Rowe Price Group by 3.4% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 12,986 shares of the asset manager’s stock worth $1,415,000 after purchasing an additional 427 shares during the last quarter. Ballentine Partners LLC acquired a new stake in shares of T. Rowe Price Group during the third quarter worth about $285,000. Mirae Asset Global Investments Co. Ltd. boosted its position in T. Rowe Price Group by 14.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 157,068 shares of the asset manager’s stock valued at $17,201,000 after buying an additional 19,482 shares during the last quarter. Finally, Forsta AP Fonden increased its holdings in T. Rowe Price Group by 68.0% in the 3rd quarter. Forsta AP Fonden now owns 117,800 shares of the asset manager’s stock worth $12,832,000 after buying an additional 47,700 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the sale, the vice president now directly owns 36,800 shares in the company, valued at $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares of the company’s stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

TROW has been the subject of several research reports. Evercore ISI lifted their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Wells Fargo & Company decreased their target price on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Morgan Stanley increased 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. JPMorgan Chase & Co. reduced their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Finally, Barclays lowered their target price on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $115.09.

T. Rowe Price Group Trading Down 2.0 %

Shares of TROW stock opened at $106.27 on Monday. T. Rowe Price Group, Inc. has a 12-month low of $100.49 and a 12-month high of $125.81. The business’s 50 day moving average is $112.79 and its two-hundred day moving average is $112.42. The company has a market capitalization of $23.66 billion, a P/E ratio of 11.60, a P/E/G ratio of 2.86 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share 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 quarter last year, the company posted $1.72 EPS. On average, research 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 declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $1.27 dividend. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a dividend yield of 4.78%. The ex-dividend date is Friday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 54.15%.

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.