Delta Financial Advisors LLC Cuts Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Delta Financial Advisors LLC reduced its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.6% in the 4th quarter, HoldingsChannel reports. The fund owned 8,067 shares of the asset manager’s stock after selling 219 shares during the quarter. Delta Financial Advisors LLC’s holdings in T. Rowe Price Group were worth $869,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. OFI Invest Asset Management acquired a new position in shares of T. Rowe Price Group during the 3rd quarter worth about $25,000. Creative Financial Designs Inc. ADV boosted its position in shares of T. Rowe Price Group by 83.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after acquiring an additional 106 shares in the last quarter. PCA Investment Advisory Services Inc. acquired a new position in shares of T. Rowe Price Group during the 2nd quarter worth about $26,000. Park Place Capital Corp boosted its position in shares of T. Rowe Price Group by 1,775.0% during the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after acquiring an additional 284 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new position in shares of T. Rowe Price Group during the 4th quarter worth about $33,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on TROW shares. UBS Group upped their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday, April 12th. Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and upped their target price for the company from $106.00 to $120.00 in a research report on Thursday, April 11th. TD Cowen raised T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their target price for the company from $92.00 to $114.00 in a research report on Monday, April 8th. Citigroup upped their target price on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Finally, StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Four analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $112.67.

T. Rowe Price Group Stock Down 1.3 %

TROW traded down $1.43 on Thursday, hitting $109.96. 881,316 shares of the company traded hands, compared to its average volume of 1,386,624. The company has a 50 day moving average of $114.67 and a 200-day moving average of $106.69. The stock has a market capitalization of $24.59 billion, a PE ratio of 14.35, a PEG ratio of 2.16 and a beta of 1.40. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.12. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.74 EPS. On average, research analysts anticipate that T. Rowe Price Group, Inc. will post 8.13 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.51%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. The ex-dividend date was Thursday, March 14th. T. Rowe Price Group’s dividend payout ratio is 63.92%.

Insider Activity at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the sale, the director now owns 21,073 shares in the company, valued at approximately $2,493,357.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the sale, the insider now owns 14,113 shares in the company, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

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.