AIMZ Investment Advisors LLC Sells 1,104 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

AIMZ Investment Advisors LLC lowered its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.3% in the 4th quarter, Holdings Channel reports. The firm owned 46,085 shares of the asset manager’s stock after selling 1,104 shares during the quarter. T. Rowe Price Group accounts for approximately 1.8% of AIMZ Investment Advisors LLC’s portfolio, making the stock its 13th largest position. AIMZ Investment Advisors LLC’s holdings in T. Rowe Price Group were worth $5,212,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Private Advisor Group LLC increased its holdings 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. Pallas Capital Advisors LLC increased its holdings in shares of T. Rowe Price Group by 10.6% in the third quarter. Pallas Capital Advisors LLC now owns 3,964 shares of the asset manager’s stock worth $444,000 after purchasing an additional 380 shares during the period. abrdn plc raised its position in shares of T. Rowe Price Group by 4.2% in the third quarter. abrdn plc now owns 114,587 shares of the asset manager’s stock worth $12,412,000 after buying an additional 4,569 shares in the last quarter. Mutual Advisors LLC boosted its stake in T. Rowe Price Group by 7.0% during the third quarter. Mutual Advisors LLC now owns 40,766 shares of the asset manager’s stock valued at $4,566,000 after buying an additional 2,674 shares during the period. Finally, Pinnacle Associates Ltd. increased its stake in T. Rowe Price Group by 4.8% in the 3rd quarter. Pinnacle Associates Ltd. now owns 16,186 shares of the asset manager’s stock worth $1,743,000 after acquiring an additional 741 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

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

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $103.73 on Friday. The company has a market capitalization of $23.09 billion, a P/E ratio of 11.32, a PEG ratio of 2.86 and a beta of 1.44. T. Rowe Price Group, Inc. has a fifty-two week low of $100.49 and a fifty-two week high of $125.81. The stock has a 50 day moving average price of $111.96 and a two-hundred day moving average price of $112.32.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing analysts’ consensus estimates 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 business earned $1.72 EPS. As a group, equities analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $1.27 per share. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date of this dividend is Friday, March 14th. T. Rowe Price Group’s dividend payout ratio is currently 55.46%.

Analyst Ratings Changes

Several research analysts have recently commented on TROW shares. Morgan Stanley cut their price objective on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a report on Monday. TD Cowen decreased their price target 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. JPMorgan Chase & Co. dropped their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Evercore ISI increased their target price on 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. Finally, Wells Fargo & Company dropped their price target on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company 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 MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $114.09.

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.