Plimoth Trust Co. LLC Sells 190 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Plimoth Trust Co. LLC reduced its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,056 shares of the asset manager’s stock after selling 190 shares during the quarter. Plimoth Trust Co. LLC’s holdings in T. Rowe Price Group were worth $495,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Creative Financial Designs Inc. ADV raised its stake in shares of T. Rowe Price Group by 83.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 106 shares during the period. First United Bank & Trust acquired a new stake in T. Rowe Price Group in the 4th quarter valued at approximately $31,000. Park Place Capital Corp lifted its stake in T. Rowe Price Group by 1,775.0% in the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 284 shares in the last quarter. Fortitude Family Office LLC acquired a new position in T. Rowe Price Group during the 4th quarter worth approximately $33,000. Finally, CVA Family Office LLC bought a new position in shares of T. Rowe Price Group during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TROW. UBS Group boosted their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research report on Friday, April 12th. Morgan Stanley increased their price objective on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 17th. TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and raised their price objective for the company from $92.00 to $114.00 in a report on Monday, April 8th. JPMorgan Chase & Co. upped their target price on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their price target for the company from $106.00 to $120.00 in a research report on Thursday, April 11th. Four investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $112.10.

Insiders Place Their Bets

In other news, insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the transaction, the insider now owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the sale, the insider now owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction dated 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 sale, 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. Insiders sold 6,444 shares of company stock worth $740,408 over the last three months. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Up 1.0 %

TROW opened at $115.77 on Thursday. The stock’s fifty day simple moving average is $115.08 and its 200 day simple moving average is $113.02. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $132.76. The stock has a market cap of $25.85 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.96 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, beating the consensus estimate of $2.04 by $0.34. The firm had revenue of $1.75 billion for 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 company’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.69 earnings per share. Equities analysts forecast that T. Rowe Price Group, Inc. will post 8.84 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Friday, June 14th were issued a $1.24 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $4.96 annualized dividend and a yield of 4.28%. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

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.