Gladstone Institutional Advisory LLC Trims Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Gladstone Institutional Advisory LLC trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 9.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,922 shares of the asset manager’s stock after selling 2,693 shares during the period. Gladstone Institutional Advisory LLC’s holdings in T. Rowe Price Group were worth $2,932,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TROW. Iron Horse Wealth Management LLC grew its holdings in T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after buying an additional 110 shares in the last quarter. Y.D. More Investments Ltd lifted its holdings in shares of T. Rowe Price Group by 124.0% in the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after buying an additional 155 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in shares of T. Rowe Price Group during the fourth quarter worth $32,000. True Wealth Design LLC purchased a new position in T. Rowe Price Group during the third quarter valued at $37,000. Finally, Larson Financial Group LLC grew its stake in T. Rowe Price Group by 866.7% during the third 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. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In other news, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the transaction, the vice president now directly owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the sale, the vice president now directly owns 119,577 shares of the company’s stock, valued at $14,749,822.95. This represents a 3.27 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Down 1.9 %

TROW stock opened at $106.92 on Thursday. The stock has a market cap of $23.75 billion, a PE ratio of 11.67, a P/E/G ratio of 1.70 and a beta of 1.44. T. Rowe Price Group, Inc. has a 12 month low of $100.49 and a 12 month high of $125.81. The company has a 50-day moving average price of $115.21 and a 200 day moving average price of $112.48.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.91%. During the same period in the prior year, the firm posted $1.72 EPS. Sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.36 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $1.27 dividend. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a yield of 4.75%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.15%.

Analysts Set New Price Targets

Several research analysts have commented on TROW shares. Evercore ISI increased their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Morgan Stanley upped their price objective on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a report 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 research report on Monday, November 11th. Finally, Barclays decreased their price target on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $115.09.

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.