Patton Albertson Miller Group LLC Sells 350 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Patton Albertson Miller Group LLC reduced its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 15.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,984 shares of the asset manager’s stock after selling 350 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in T. Rowe Price Group were worth $214,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of TROW. OFI Invest Asset Management purchased a new position in shares of T. Rowe Price Group in the 3rd quarter worth about $25,000. Creative Financial Designs Inc. ADV boosted its stake 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 acquiring an additional 106 shares during the last quarter. Park Place Capital Corp grew its position in shares of T. Rowe Price Group by 1,775.0% during the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 284 shares during the period. Fortitude Family Office LLC purchased a new stake in shares of T. Rowe Price Group during the 4th quarter worth approximately $33,000. Finally, NBC Securities Inc. bought a new stake in shares of T. Rowe Price Group in the 3rd quarter worth approximately $39,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock traded down $0.19 during midday trading on Thursday, reaching $111.30. 1,729,639 shares of the stock were exchanged, compared to its average volume of 1,450,859. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $132.76. The firm has a market cap of $24.85 billion, a PE ratio of 13.22, a PEG ratio of 1.93 and a beta of 1.40. The company’s fifty day moving average is $115.22 and its 200-day moving average is $107.71.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.34. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.69 earnings per share. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 8.75 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

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 issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.46%. The ex-dividend date is Friday, June 14th. T. Rowe Price Group’s payout ratio is 58.91%.

Insider Buying and Selling

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction that occurred on 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 sale, the insider now directly owns 14,113 shares in the company, valued at $1,511,925.69. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group 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 sale, the insider now 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 is available at the SEC website. Also, Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the transaction, the director now owns 34,635 shares in the company, valued at $3,916,525.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,921 shares of company stock worth $1,500,133. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TROW. JPMorgan Chase & Co. increased their price objective on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Wells Fargo & Company upped their price objective on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, February 9th. Citigroup lifted their target price 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. Finally, Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their price target for the company from $106.00 to $120.00 in a research note on Thursday, April 11th. Four analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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.