Apriem Advisors Has $558,000 Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Apriem Advisors cut its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,930 shares of the asset manager’s stock after selling 101 shares during the quarter. Apriem Advisors’ holdings in T. Rowe Price Group were worth $558,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Keystone Financial Services raised its position in T. Rowe Price Group by 5.1% in the third quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock valued at $205,000 after purchasing an additional 92 shares during the last quarter. MCF Advisors LLC increased its stake in shares of T. Rowe Price Group by 1.5% in the fourth quarter. MCF Advisors LLC now owns 6,226 shares of the asset manager’s stock valued at $704,000 after buying an additional 93 shares during the period. Addison Advisors LLC raised its holdings in T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after buying an additional 93 shares during the last quarter. Nvwm LLC boosted its position in T. Rowe Price Group by 2.2% during the 3rd quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock worth $490,000 after buying an additional 95 shares during the period. Finally, Strategy Asset Managers LLC grew its holdings in T. Rowe Price Group by 4.6% during the 3rd quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock worth $236,000 after acquiring an additional 95 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares in the company, 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 is accessible through the SEC website. Also, VP Arif Husain sold 4,112 shares of T. Rowe Price Group stock in a transaction on Tuesday, February 11th. The stock was 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 in the company, valued at $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $104.74 on Thursday. The stock has a market capitalization of $23.32 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 2.86 and a beta of 1.44. T. Rowe Price Group, Inc. has a 52 week low of $100.49 and a 52 week high of $125.81. The stock has a 50 day moving average price of $112.14 and a two-hundred day moving average price of $112.38.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same quarter last year, the company posted $1.72 earnings per share. Research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 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. Investors of record on Friday, March 14th will be issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio is currently 55.46%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TROW. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Wells Fargo & Company lowered their target price on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Evercore ISI upped their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Barclays lowered their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research report on Thursday, February 6th. Finally, TD Cowen reduced their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $114.09.

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.