Charles Schwab Investment Management Inc. Lowers Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Charles Schwab Investment Management Inc. lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,896,945 shares of the asset manager’s stock after selling 3,156 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in T. Rowe Price Group were worth $527,352,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in T. Rowe Price Group in the 3rd quarter worth about $25,000. Creative Financial Designs Inc. ADV grew its holdings in T. Rowe Price Group by 83.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 106 shares during the period. Park Place Capital Corp increased its position 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 purchasing an additional 284 shares during the last quarter. Fortitude Family Office LLC purchased a new position in T. Rowe Price Group during the fourth quarter worth approximately $33,000. Finally, NBC Securities Inc. acquired a new position in shares of T. Rowe Price Group in the 3rd quarter valued at $39,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TROW shares. UBS Group increased their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research report on Friday, April 12th. Evercore ISI reduced their price objective on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 30th. Citigroup raised their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $106.00 to $120.00 in a research note on Thursday, April 11th. Finally, Morgan Stanley raised their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. Four investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $112.10.

Insider Buying and Selling at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the sale, the insider now directly owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the sale, the director now owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the transaction, the insider now directly owns 14,113 shares in the company, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. Insiders have sold 12,921 shares of company stock worth $1,500,133 in the last ninety days. 2.00% of the stock is owned by insiders.

T. Rowe Price Group Trading Down 0.7 %

TROW stock traded down $0.76 during trading on Tuesday, reaching $111.25. The stock had a trading volume of 983,265 shares, compared to its average volume of 1,449,078. The firm has a fifty day moving average price of $115.24 and a 200 day moving average price of $107.68. The company has a market capitalization of $24.84 billion, a P/E ratio of 13.21, a PEG ratio of 1.93 and a beta of 1.40. 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 results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the business posted $1.69 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 13.8% on a year-over-year basis. Sell-side analysts predict that T. Rowe Price Group, Inc. will post 8.75 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.46%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

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.