Harbor Investment Advisory LLC Has $1.95 Million Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Harbor Investment Advisory LLC trimmed its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 17.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,255 shares of the asset manager’s stock after selling 3,536 shares during the period. Harbor Investment Advisory LLC’s holdings in T. Rowe Price Group were worth $1,951,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Iron Horse Wealth Management LLC lifted its holdings in T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 110 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of T. Rowe Price Group by 54.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after buying an additional 104 shares during the last quarter. True Wealth Design LLC bought a new stake in shares of T. Rowe Price Group during the 3rd quarter worth about $37,000. Larson Financial Group LLC grew its stake in T. Rowe Price Group by 866.7% in the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after buying an additional 312 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in T. Rowe Price Group in the 3rd quarter valued at about $43,000. 73.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group 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 sale, the vice president now directly 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Stock Up 1.0 %

TROW stock opened at $113.21 on Tuesday. The company’s 50-day moving average price is $117.71 and its two-hundred day moving average price is $112.82. The firm has a market cap of $25.15 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.67 and a beta of 1.43. T. Rowe Price Group, Inc. has a 12 month low of $100.49 and a 12 month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the firm posted $2.17 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities analysts predict that T. Rowe Price Group, Inc. will post 9.45 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a dividend of $1.24 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.38%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 54.27%.

Analyst Ratings Changes

TROW has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their price objective on T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. The Goldman Sachs Group decreased their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a report on Thursday, October 3rd. Barclays dropped their target price on T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating for the company in a report on Friday. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Evercore ISI lifted their price objective 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. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $115.82.

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.