T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by TAP Consulting LLC

TAP Consulting LLC cut its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,638 shares of the asset manager’s stock after selling 469 shares during the period. TAP Consulting LLC’s holdings in T. Rowe Price Group were worth $638,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Royal London Asset Management Ltd. lifted its stake in T. Rowe Price Group by 3.8% in the fourth quarter. Royal London Asset Management Ltd. now owns 93,003 shares of the asset manager’s stock worth $10,518,000 after acquiring an additional 3,440 shares during the last quarter. L.K. Benson & Company P.C. acquired a new stake in T. Rowe Price Group in the fourth quarter valued at $36,643,000. Vinva Investment Management Ltd increased its stake in T. Rowe Price Group by 6.1% in the fourth quarter. Vinva Investment Management Ltd now owns 34,866 shares of the asset manager’s stock valued at $3,970,000 after purchasing an additional 1,990 shares during the last quarter. Enhancing Capital LLC acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at $865,000. Finally, Xponance Inc. grew its position in shares of T. Rowe Price Group by 0.9% in the 4th quarter. Xponance Inc. now owns 31,837 shares of the asset manager’s stock valued at $3,600,000 after buying an additional 277 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TROW shares. Barclays decreased their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Morgan Stanley reduced their target price on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Wells Fargo & Company reduced 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 note on Thursday, February 6th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Finally, 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. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $114.09.

T. Rowe Price Group Trading Up 0.5 %

NASDAQ:TROW opened at $94.05 on Thursday. T. Rowe Price Group, Inc. has a twelve month low of $91.37 and a twelve month high of $125.81. The company has a market capitalization of $20.94 billion, a P/E ratio of 10.27, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. The firm has a 50-day moving average price of $107.10 and a two-hundred day moving average price of $111.36.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data 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 period in the previous year, the company posted $1.72 earnings per share. On average, equities research 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 declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $1.27 per share. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 annualized dividend and a yield of 5.40%. T. Rowe Price Group’s payout ratio is 55.46%.

Insider Activity

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.00% of the company’s stock.

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.