Janney Montgomery Scott LLC Lowers Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Janney Montgomery Scott LLC trimmed its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 9.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 163,529 shares of the asset manager’s stock after selling 16,857 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.07% of T. Rowe Price Group worth $17,610,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in T. Rowe Price Group during the 3rd quarter valued at approximately $25,000. Creative Financial Designs Inc. ADV grew its stake in shares of T. Rowe Price Group by 83.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after buying an additional 106 shares in the last quarter. First United Bank & Trust bought a new position in shares of T. Rowe Price Group in the 4th quarter valued at about $31,000. Park Place Capital Corp boosted its stake in T. Rowe Price Group by 1,775.0% during the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after buying an additional 284 shares during the period. Finally, Fortitude Family Office LLC bought a new stake in shares of T. Rowe Price Group in the 4th quarter worth about $33,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Price Performance

TROW opened at $116.05 on Friday. The firm has a market capitalization of $25.91 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 1.99 and a beta of 1.40. The business’s 50-day moving average is $114.97 and its two-hundred day moving average is $108.45. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.69 EPS. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 8.74 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be given a $1.24 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.27%. T. Rowe Price Group’s payout ratio is 58.91%.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the sale, the director now owns 34,635 shares in the company, valued at $3,916,525.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the sale, the director now directly owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the transaction, the director now directly owns 21,073 shares in the company, valued at $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on TROW. UBS Group boosted their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a report on Friday, April 12th. Citigroup raised their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. JPMorgan Chase & Co. boosted their price objective on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. Wells Fargo & Company lifted their target price on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. Finally, Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $106.00 to $120.00 in a research report on Thursday, April 11th. Four analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $112.10.

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.