Cove Private Wealth LLC Sells 1,800 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Cove Private Wealth LLC decreased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 23.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,775 shares of the asset manager’s stock after selling 1,800 shares during the period. Cove Private Wealth LLC’s holdings in T. Rowe Price Group were worth $653,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in shares of T. Rowe Price Group by 2.8% during the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock worth $30,062,000 after purchasing an additional 7,503 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of T. Rowe Price Group by 3.8% during the third quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock worth $3,267,000 after buying an additional 1,100 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of T. Rowe Price Group in the second quarter valued at approximately $15,907,000. Aigen Investment Management LP bought a new stake in shares of T. Rowe Price Group in the third quarter valued at approximately $516,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of T. Rowe Price Group by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after acquiring an additional 231,286 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Insider Activity at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now owns 119,577 shares in the company, valued at $14,749,822.95. This represents a 3.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on TROW. Evercore ISI upped their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. cut their price objective 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. Morgan Stanley lifted their target price on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. The Goldman Sachs Group cut their price target on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a report on Thursday, October 3rd. Finally, Wells Fargo & Company lowered their price objective on T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and a consensus target price of $115.82.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $113.21 on Monday. The firm has a market capitalization of $25.15 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.42 and a beta of 1.43. The stock has a fifty day moving average price of $117.71 and a two-hundred day moving average price of $112.84. T. Rowe Price Group, Inc. has a 52-week low of $100.49 and a 52-week high of $125.81.

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, beating the consensus estimate of $2.36 by $0.21. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm posted $2.17 EPS. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.46 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $1.24 per share. The ex-dividend date was Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.38%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.27%.

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.