Tufton Capital Management Has $980,000 Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Tufton Capital Management reduced its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,667 shares of the asset manager’s stock after selling 140 shares during the quarter. Tufton Capital Management’s holdings in T. Rowe Price Group were worth $980,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TROW. Private Advisor Group LLC lifted its holdings in T. Rowe Price Group by 10.4% in the 3rd quarter. Private Advisor Group LLC now owns 12,060 shares of the asset manager’s stock worth $1,314,000 after purchasing an additional 1,134 shares during the last quarter. Pallas Capital Advisors LLC lifted its holdings in T. Rowe Price Group by 10.6% in the 3rd 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 last quarter. abrdn plc increased its position in T. Rowe Price Group by 4.2% in the 3rd 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 during the period. Mutual Advisors LLC increased its position in T. Rowe Price Group by 7.0% in the 3rd quarter. Mutual Advisors LLC now owns 40,766 shares of the asset manager’s stock worth $4,566,000 after buying an additional 2,674 shares during the period. Finally, Pinnacle Associates Ltd. increased its position 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 buying an additional 741 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $103.73 on Friday. The business’s fifty day moving average price is $111.96 and its two-hundred day moving average price is $112.32. 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 market capitalization of $23.09 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 2.86 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share 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 period in the prior year, the firm earned $1.72 earnings per share. Research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 4.90%. 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 dividend payout ratio is 55.46%.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction 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 transaction, the vice president now owns 36,800 shares of the company’s stock, valued at $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction 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 directly owns 119,577 shares in the company, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Morgan Stanley dropped their price target on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Monday. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. JPMorgan Chase & Co. dropped their price target on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. TD Cowen dropped their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $113.00 price target (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat, T. Rowe Price Group has an average rating of “Hold” and an average price target 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.