JGP Wealth Management LLC Sells 1,328 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

JGP Wealth Management LLC decreased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 8.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,658 shares of the asset manager’s stock after selling 1,328 shares during the quarter. JGP Wealth Management LLC’s holdings in T. Rowe Price Group were worth $1,471,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of TROW. Union Savings Bank purchased a new position in shares of T. Rowe Price Group during the second quarter valued at about $25,000. PCA Investment Advisory Services Inc. purchased a new position in shares of T. Rowe Price Group during the second quarter valued at about $26,000. Creative Financial Designs Inc. ADV increased its position in shares of T. Rowe Price Group by 83.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after buying an additional 106 shares during the period. OFI Invest Asset Management purchased a new position in shares of T. Rowe Price Group during the third quarter valued at about $25,000. Finally, Intrepid Capital Management Inc. purchased a new position in shares of T. Rowe Price Group during the second quarter valued at about $34,000. Hedge funds and other institutional investors own 75.85% of the company’s stock.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group 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 of the company’s stock, valued at approximately $2,493,357.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction dated Friday, February 9th. The shares were 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 of the company’s stock, valued at approximately $1,511,925.69. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the transaction, the director now directly owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW traded up $0.17 during midday trading on Monday, reaching $115.03. The stock had a trading volume of 1,082,794 shares, compared to its average volume of 1,476,489. The stock has a 50-day moving average of $110.96 and a 200-day moving average of $105.27. The company has a market capitalization of $25.73 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 2.29 and a beta of 1.39. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.12. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. T. Rowe Price Group’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the company posted $1.74 earnings per share. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 7.75 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Friday, March 15th will be paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.31%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend is Thursday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 63.92%.

Analysts Set New Price Targets

TROW has been the topic of a number of recent research reports. Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $101.00 to $106.00 and gave the stock an “equal weight” rating in a report on Friday, January 19th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. UBS Group upped their target price on shares of T. Rowe Price Group from $86.00 to $102.00 and gave the stock a “sell” rating in a research note on Wednesday, January 10th. JPMorgan Chase & Co. upped their target price on shares of T. Rowe Price Group from $90.00 to $94.00 and gave the stock an “underweight” rating in a research note on Friday, February 9th. Finally, TD Cowen started coverage on shares of T. Rowe Price Group in a research report on Thursday, January 4th. They set an “underperform” rating and a $88.00 price objective on the stock. Six equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $97.30.

T. Rowe Price Group Company 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.