T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,536 shares of the asset manager’s stock after selling 119 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in T. Rowe Price Group were worth $513,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC lifted its position in T. Rowe Price Group by 7,992.0% in the third quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock valued at $116,300,000 after buying an additional 1,054,461 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of T. Rowe Price Group by 382.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock worth $43,373,000 after acquiring an additional 315,581 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of T. Rowe Price Group by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after purchasing an additional 231,286 shares during the period. Franklin Resources Inc. increased its holdings in T. Rowe Price Group by 45.1% in the 3rd quarter. Franklin Resources Inc. now owns 490,155 shares of the asset manager’s stock valued at $53,760,000 after purchasing an additional 152,430 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC purchased a new stake in T. Rowe Price Group in the third quarter valued at approximately $13,559,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on TROW. Evercore ISI raised their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. JPMorgan Chase & Co. reduced their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Barclays dropped their price objective on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Finally, StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $115.09.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $107.17 on Monday. The stock’s fifty day moving average is $114.21 and its two-hundred day moving average is $112.36. The stock has a market cap of $23.81 billion, a PE ratio of 11.70, a P/E/G ratio of 1.70 and a beta of 1.44. T. Rowe Price Group, Inc. has a 1-year low of $100.49 and a 1-year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 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 20.91%. During the same quarter in the previous year, the business earned $1.72 earnings per share. On average, research analysts expect that T. Rowe Price Group, Inc. will post 9.36 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $1.27 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.74%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s payout ratio is 54.15%.

Insider Activity at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction dated 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 owns 36,800 shares of the company’s stock, valued at $4,021,136. This trade represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the sale, the vice president now directly owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

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.