Birch Capital Management LLC Sells 4,600 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Birch Capital Management LLC lessened its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 24.0% in the 4th quarter, Holdings Channel reports. The firm owned 14,565 shares of the asset manager’s stock after selling 4,600 shares during the period. Birch Capital Management LLC’s holdings in T. Rowe Price Group were worth $1,647,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Iron Horse Wealth Management LLC lifted its holdings in T. Rowe Price Group by 90.9% during the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after acquiring an additional 110 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in 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 period. True Wealth Design LLC bought a new position in T. Rowe Price Group in the third quarter valued at approximately $37,000. Larson Financial Group LLC lifted its position 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 acquiring an additional 312 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in T. Rowe Price Group in the 3rd quarter worth $43,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TROW has been the subject of a number of research reports. Wells Fargo & Company increased their price objective on T. Rowe Price Group from $112.00 to $124.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Keefe, Bruyette & Woods lifted their price objective on shares of T. Rowe Price Group from $114.00 to $116.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. The Goldman Sachs Group cut their price target on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a report on Thursday, October 3rd. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Saturday, December 28th. Finally, Barclays raised their price objective on T. Rowe Price Group from $110.00 to $115.00 and gave the stock an “underweight” rating in a research note on Monday, December 9th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $117.00.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock traded down $0.57 on Tuesday, reaching $113.76. 519,813 shares of the company’s stock were exchanged, compared to its average volume of 866,375. The company has a market capitalization of $25.27 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 1.73 and a beta of 1.43. T. Rowe Price Group, Inc. has a 52 week low of $100.49 and a 52 week high of $125.81. The firm’s 50-day moving average is $118.18 and its two-hundred day moving average is $113.08.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.21. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.17 earnings per share. On average, analysts expect that T. Rowe Price Group, Inc. will post 9.39 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a $1.24 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.36%. T. Rowe Price Group’s payout ratio is currently 54.27%.

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.