B. Riley Wealth Advisors Inc. Sells 997 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

B. Riley Wealth Advisors Inc. reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 25.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,961 shares of the asset manager’s stock after selling 997 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in T. Rowe Price Group were worth $319,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Cove Private Wealth LLC acquired a new position in T. Rowe Price Group in the fourth quarter valued at approximately $816,000. Fisher Asset Management LLC lifted its holdings in T. Rowe Price Group by 6.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,751,405 shares of the asset manager’s stock valued at $188,609,000 after buying an additional 109,053 shares during the period. Greenwood Capital Associates LLC lifted its holdings in T. Rowe Price Group by 3.6% in the fourth quarter. Greenwood Capital Associates LLC now owns 8,606 shares of the asset manager’s stock valued at $927,000 after buying an additional 301 shares during the period. Royal London Asset Management Ltd. lifted its holdings in T. Rowe Price Group by 1.7% in the fourth quarter. Royal London Asset Management Ltd. now owns 85,811 shares of the asset manager’s stock valued at $9,241,000 after buying an additional 1,440 shares during the period. Finally, Tortoise Investment Management LLC lifted its holdings in T. Rowe Price Group by 4.4% in the fourth quarter. Tortoise Investment Management LLC now owns 2,944 shares of the asset manager’s stock valued at $317,000 after buying an additional 125 shares during the period. 73.39% of the stock is owned by institutional investors.

Insider Activity at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the transaction, the vice president now owns 34,710 shares of the company’s stock, valued at $4,061,070. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Dorothy C. Sawyer sold 2,000 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the transaction, the vice president now owns 34,710 shares of the company’s stock, valued at $4,061,070. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the transaction, the director now directly owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TROW has been the topic of several analyst reports. UBS Group increased their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a report on Friday, April 12th. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their target price for the stock from $92.00 to $114.00 in a report on Monday, April 8th. Citigroup increased their target price on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $106.00 to $120.00 in a report on Thursday, April 11th. Finally, Evercore ISI cut their target price on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a report on Tuesday, April 30th. Four equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $112.10.

T. Rowe Price Group Stock Down 1.2 %

Shares of TROW stock opened at $117.41 on Wednesday. The firm has a fifty day moving average of $114.61 and a 200-day moving average of $112.60. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $132.76. The company has a market capitalization of $26.22 billion, a price-to-earnings ratio of 13.94, a P/E/G ratio of 2.02 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.34. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The firm’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.69 earnings per share. On average, equities analysts expect that T. Rowe Price Group, Inc. will post 8.84 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date is Friday, June 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 58.91%.

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.