T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by CFS Investment Advisory Services LLC

CFS Investment Advisory Services LLC cut its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,329 shares of the asset manager’s stock after selling 98 shares during the quarter. CFS Investment Advisory Services LLC’s holdings in T. Rowe Price Group were worth $1,055,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Grimes & Company Inc. grew its position in shares of T. Rowe Price Group by 2.6% during the 4th quarter. Grimes & Company Inc. now owns 191,099 shares of the asset manager’s stock valued at $21,611,000 after acquiring an additional 4,795 shares during the period. Lantz Financial LLC raised its holdings in T. Rowe Price Group by 5.0% in the 4th quarter. Lantz Financial LLC now owns 16,332 shares of the asset manager’s stock valued at $1,847,000 after acquiring an additional 783 shares during the last quarter. DGS Capital Management LLC grew its holdings in T. Rowe Price Group by 36.0% in the 4th quarter. DGS Capital Management LLC now owns 3,174 shares of the asset manager’s stock valued at $359,000 after buying an additional 840 shares in the last quarter. Goelzer Investment Management Inc. increased its position in T. Rowe Price Group by 15.5% during the fourth quarter. Goelzer Investment Management Inc. now owns 64,503 shares of the asset manager’s stock worth $7,295,000 after purchasing an additional 8,638 shares during the last quarter. Finally, Donoghue Forlines LLC raised its position in shares of T. Rowe Price Group by 9.6% during the 4th quarter. Donoghue Forlines LLC now owns 12,806 shares of the asset manager’s stock valued at $1,448,000 after buying an additional 1,122 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the 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 completion of the transaction, the vice president now owns 119,577 shares in the company, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $114.21 on Friday. T. Rowe Price Group, Inc. has a one year low of $100.49 and a one year high of $125.81. The firm has a market cap of $25.37 billion, a PE ratio of 12.50, a P/E/G ratio of 1.68 and a beta of 1.43. The firm’s fifty day moving average is $117.22 and its two-hundred day moving average is $112.80.

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

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given 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 yield of 4.34%. T. Rowe Price Group’s payout ratio is currently 54.27%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TROW shares. Barclays decreased their target price on shares of T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Morgan Stanley lifted their price objective on T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft increased their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a report on Monday, November 11th. Keefe, Bruyette & Woods cut their price objective on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. Finally, TD Cowen lowered their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $115.82.

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.