Bradley Foster & Sargent Inc. CT Lowers Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Bradley Foster & Sargent Inc. CT cut its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,129 shares of the asset manager’s stock after selling 560 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in T. Rowe Price Group were worth $1,032,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its stake in shares of T. Rowe Price Group by 7,992.0% during the third quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock worth $116,300,000 after purchasing an additional 1,054,461 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in T. Rowe Price Group by 382.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock valued at $43,373,000 after buying an additional 315,581 shares during the period. Charles Schwab Investment Management Inc. raised its position in T. Rowe Price Group by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after buying an additional 231,286 shares during the last quarter. Provident Trust Co. lifted its stake in shares of T. Rowe Price Group by 8.9% in the 4th quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager’s stock worth $295,311,000 after acquiring an additional 213,566 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of T. Rowe Price Group by 45.1% in the third quarter. Franklin Resources Inc. now owns 490,155 shares of the asset manager’s stock valued at $53,760,000 after acquiring an additional 152,430 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on TROW shares. JPMorgan Chase & Co. cut their price target 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. TD Cowen cut their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Wells Fargo & Company cut their price objective on 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. Finally, Keefe, Bruyette & Woods reissued 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 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $115.09.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were 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 of the company’s stock, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The transaction 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 business’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 transaction of $499,197.45. Following the completion of the sale, the vice president now owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Stock Down 2.0 %

Shares of NASDAQ:TROW opened at $106.27 on Friday. 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, Inc. has a 52-week low of $100.49 and a 52-week high of $125.81. The stock’s fifty day simple moving average is $112.79 and its 200-day simple moving average is $112.35.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (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 previous year, the business earned $1.72 earnings per share. On average, sell-side analysts anticipate 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. Shareholders of record on Friday, March 14th will be paid a $1.27 dividend. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a yield of 4.78%. The ex-dividend date is Friday, March 14th. T. Rowe Price Group’s payout ratio is presently 54.15%.

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.