Global Retirement Partners LLC Sells 1,033 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Global Retirement Partners LLC lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 21.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,778 shares of the asset manager’s stock after selling 1,033 shares during the quarter. Global Retirement Partners LLC’s holdings in T. Rowe Price Group were worth $427,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Y.D. More Investments Ltd boosted its holdings in shares of T. Rowe Price Group by 124.0% during the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 155 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of T. Rowe Price Group during the fourth quarter worth $32,000. True Wealth Design LLC acquired a new stake in T. Rowe Price Group in the third quarter valued at $37,000. Larson Financial Group LLC lifted its holdings in T. Rowe Price Group by 866.7% during the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after buying an additional 312 shares during the period. Finally, Iron Horse Wealth Management LLC lifted its holdings in T. Rowe Price Group by 47.6% during the 4th quarter. Iron Horse Wealth Management LLC now owns 341 shares of the asset manager’s stock worth $39,000 after buying an additional 110 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TROW. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. JPMorgan Chase & Co. decreased their price target on 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. Evercore ISI increased their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Morgan Stanley boosted their price objective on T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. Finally, TD Cowen dropped their price target on shares of 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. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $115.09.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $106.27 on Monday. T. Rowe Price Group, Inc. has a 1 year low of $100.49 and a 1 year high of $125.81. The business has a fifty day simple moving average of $112.79 and a two-hundred day simple moving average of $112.42. 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 (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 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 in the previous year, the firm earned $1.72 earnings per share. As a group, 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. Investors of record on Friday, March 14th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio is currently 54.15%.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the transaction, the vice president now owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction that occurred 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 completion of the sale, 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 disclosure for this sale can be found here. 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.