Corient Private Wealth LLC Sells 224,938 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Corient Private Wealth LLC trimmed its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 51.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 215,581 shares of the asset manager’s stock after selling 224,938 shares during the quarter. Corient Private Wealth LLC’s holdings in T. Rowe Price Group were worth $23,216,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TROW. Teacher Retirement System of Texas boosted its holdings in T. Rowe Price Group by 2.5% in the third quarter. Teacher Retirement System of Texas now owns 17,401 shares of the asset manager’s stock worth $1,825,000 after acquiring an additional 428 shares in the last quarter. Syon Capital LLC bought a new stake in T. Rowe Price Group in the third quarter worth $223,000. NBC Securities Inc. bought a new stake in T. Rowe Price Group in the third quarter worth $39,000. Achmea Investment Management B.V. boosted its holdings in T. Rowe Price Group by 4.7% in the third quarter. Achmea Investment Management B.V. now owns 113,342 shares of the asset manager’s stock worth $11,887,000 after acquiring an additional 5,110 shares in the last quarter. Finally, Ieq Capital LLC boosted its holdings in T. Rowe Price Group by 11.3% in the third quarter. Ieq Capital LLC now owns 5,922 shares of the asset manager’s stock worth $621,000 after acquiring an additional 603 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TROW. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. TD Cowen raised T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their price target for the company from $92.00 to $114.00 in a report on Monday, April 8th. JPMorgan Chase & Co. upped their price target on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. Citigroup upped their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Finally, UBS Group upped their price target on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a report on Friday, April 12th. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $112.10.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $116.91 on Friday. The stock has a market cap of $26.11 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 2.02 and a beta of 1.40. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76. The stock has a fifty day moving average of $114.98 and a 200 day moving average of $109.32.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.69 earnings per share. As a group, sell-side analysts predict that T. Rowe Price Group, Inc. will post 8.8 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders 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 4.24%. The ex-dividend date of this dividend is Friday, June 14th. T. Rowe Price Group’s payout ratio is 58.91%.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the sale, the director now owns 21,073 shares in the company, valued at $2,493,357.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the transaction, the director now owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the transaction, the director now directly owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

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.