Claro Advisors LLC Decreases Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Claro Advisors LLC decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 21.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,222 shares of the asset manager’s stock after selling 1,742 shares during the period. Claro Advisors LLC’s holdings in T. Rowe Price Group were worth $704,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Iron Horse Wealth Management LLC lifted its position in shares of T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after buying an additional 110 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in shares of T. Rowe Price Group by 54.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after buying an additional 104 shares in the last quarter. True Wealth Design LLC purchased a new position in shares of T. Rowe Price Group during the 3rd quarter valued at approximately $37,000. Larson Financial Group LLC lifted its position in shares of T. Rowe Price Group by 866.7% during the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after buying an additional 312 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of T. Rowe Price Group during the 3rd quarter valued at approximately $43,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TROW shares. The Goldman Sachs Group decreased their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a report on Thursday, October 3rd. Wells Fargo & Company raised their price objective on T. Rowe Price Group from $112.00 to $124.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Evercore ISI raised their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods decreased their price objective on T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating on the stock in a report on Monday. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus price target of $116.55.

T. Rowe Price Group Stock Up 1.9 %

Shares of TROW opened at $110.63 on Tuesday. The stock has a fifty day simple moving average of $118.17 and a two-hundred day simple moving average of $112.88. The company has a market capitalization of $24.58 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 1.73 and a beta of 1.43. T. Rowe Price Group, Inc. has a 52-week low of $100.49 and a 52-week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the company earned $2.17 EPS. As a group, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date was Friday, December 13th. T. Rowe Price Group’s payout ratio is 54.27%.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group 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.