EntryPoint Capital LLC Cuts Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

EntryPoint Capital LLC decreased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 47.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,386 shares of the asset manager’s stock after selling 2,189 shares during the quarter. EntryPoint Capital LLC’s holdings in T. Rowe Price Group were worth $270,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TROW. Congress Wealth Management LLC DE boosted its position in T. Rowe Price Group by 5.9% in the 4th quarter. Congress Wealth Management LLC DE now owns 93,074 shares of the asset manager’s stock valued at $10,526,000 after buying an additional 5,192 shares during the period. Vanguard Group Inc. grew its stake in T. Rowe Price Group by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager’s stock worth $2,947,559,000 after purchasing an additional 135,203 shares in the last quarter. Napatree Capital LLC grew its stake in T. Rowe Price Group by 10.5% during the 4th quarter. Napatree Capital LLC now owns 7,733 shares of the asset manager’s stock worth $875,000 after purchasing an additional 733 shares in the last quarter. Stevens Capital Management LP increased its holdings in T. Rowe Price Group by 60.1% during the 4th quarter. Stevens Capital Management LP now owns 3,890 shares of the asset manager’s stock worth $440,000 after purchasing an additional 1,460 shares during the period. Finally, LPL Financial LLC raised its position in T. Rowe Price Group by 15.8% in the 4th quarter. LPL Financial LLC now owns 426,288 shares of the asset manager’s stock valued at $48,209,000 after purchasing an additional 58,286 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity

In related news, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the transaction, the vice president now owns 36,800 shares in the company, valued at $4,021,136. The trade was a 10.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Morgan Stanley lowered their price target 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. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Wells Fargo & Company lowered their target price on shares of 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. Finally, Barclays dropped their target price on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and a consensus price target of $114.09.

T. Rowe Price Group Stock Down 3.3 %

Shares of NASDAQ TROW opened at $91.57 on Friday. The stock has a market cap of $20.39 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 52-week low of $91.10 and a 52-week high of $125.81. The business has a 50-day moving average price of $104.61 and a 200 day moving average price of $110.82.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share 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 period last year, the company earned $1.72 earnings per share. 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $1.27 dividend. The ex-dividend date of this dividend was Friday, March 14th. 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 yield of 5.55%. T. Rowe Price Group’s payout ratio is currently 55.46%.

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.