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

Dakota Wealth Management cut its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 31.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,436 shares of the asset manager’s stock after selling 1,134 shares during the period. Dakota Wealth Management’s holdings in T. Rowe Price Group were worth $275,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Iron Horse Wealth Management LLC lifted its position in shares of T. Rowe Price Group by 90.9% during the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after purchasing an additional 110 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in T. Rowe Price Group by 54.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after buying an additional 104 shares during the period. True Wealth Design LLC acquired a new position in T. Rowe Price Group in the 3rd quarter worth $37,000. Larson Financial Group LLC boosted its position in T. Rowe Price Group by 866.7% in the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after buying an additional 312 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of T. Rowe Price Group during the third quarter valued at about $43,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on TROW. Barclays reduced their price target on T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating for the company in a report on Friday, January 17th. JPMorgan Chase & Co. decreased their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Evercore ISI upped their price target 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. Morgan Stanley raised their price objective on shares of 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. Finally, The Goldman Sachs Group cut their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $115.82.

Insider Activity at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was 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 in the company, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Stock Up 0.7 %

Shares of NASDAQ TROW opened at $114.21 on Friday. The firm’s 50-day moving average price is $117.22 and its two-hundred day moving average price is $112.80. 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 market capitalization of $25.37 billion, a P/E ratio of 12.50, a P/E/G ratio of 1.68 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.21. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted $2.17 EPS. As a group, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.45 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a $1.24 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.34%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.27%.

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.