Apriem Advisors Cuts Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Apriem Advisors cut its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.0% in the 4th quarter, HoldingsChannel reports. The firm owned 4,930 shares of the asset manager’s stock after selling 101 shares during the quarter. Apriem Advisors’ holdings in T. Rowe Price Group were worth $558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Addison Advisors LLC grew its position in T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after buying an additional 93 shares during the period. Y.D. More Investments Ltd grew its position in shares of T. Rowe Price Group by 124.0% during the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 155 shares during the period. Stonebridge Financial Group LLC purchased a new stake in shares of T. Rowe Price Group during the 4th quarter worth approximately $32,000. Advantage Trust Co raised its holdings in shares of T. Rowe Price Group by 48.8% in the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after purchasing an additional 100 shares during the period. Finally, True Wealth Design LLC purchased a new position in T. Rowe Price Group in the third quarter valued at approximately $37,000. 73.39% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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 that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the sale, the vice president now directly owns 119,577 shares in the company, valued at $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the transaction, the vice president now directly owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. This represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

TROW has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased 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. Morgan Stanley lowered their price objective on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Monday. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $113.00 target price (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $114.09.

T. Rowe Price Group Trading Down 1.4 %

TROW stock opened at $104.74 on Thursday. The firm has a 50 day moving average of $112.14 and a 200-day moving average of $112.38. The firm has a market capitalization of $23.32 billion, a P/E ratio of 11.43, a price-to-earnings-growth ratio of 2.86 and a beta of 1.44. T. Rowe Price Group, Inc. has a 12 month low of $100.49 and a 12 month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same quarter in the prior year, the company earned $1.72 earnings per share. Sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 4.85%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. T. Rowe Price Group’s payout ratio is presently 55.46%.

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.