Bennett Selby Investments LP Reduces Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Bennett Selby Investments LP cut its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.9% in the fourth quarter, HoldingsChannel reports. The firm owned 10,686 shares of the asset manager’s stock after selling 204 shares during the period. Bennett Selby Investments LP’s holdings in T. Rowe Price Group were worth $1,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in TROW. Iron Horse Wealth Management LLC increased its holdings in shares of T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 110 shares in the last quarter. Hexagon Capital Partners LLC grew its position in shares of 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 valued at $32,000 after acquiring an additional 104 shares during the period. True Wealth Design LLC purchased a new position in shares of T. Rowe Price Group in the 3rd quarter valued at about $37,000. Larson Financial Group LLC raised its holdings 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 worth $38,000 after purchasing an additional 312 shares during the period. Finally, Brooklyn Investment Group purchased a new position in T. Rowe Price Group during the third quarter worth approximately $43,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $114.21 on Friday. T. Rowe Price Group, Inc. has a one year low of $100.49 and a one year high of $125.81. The firm has a 50 day simple moving average of $117.31 and a 200-day simple moving average of $112.81. The firm has a market cap of $25.37 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.68 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the firm earned $2.17 earnings per share. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Equities analysts predict that T. Rowe Price Group, Inc. will post 9.45 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a $1.24 dividend. The ex-dividend date 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 payout ratio is currently 54.27%.

Analyst Ratings Changes

TROW has been the subject of several research analyst reports. StockNews.com raised T. Rowe Price Group from a “hold” rating to a “buy” rating in a research note on Saturday. JPMorgan Chase & Co. dropped their target price on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Evercore ISI raised their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods cut their price objective on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a report on Monday, January 13th. Finally, Barclays cut 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. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $115.82.

Insider Buying and Selling

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the sale, the vice president now owns 119,577 shares in the company, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is 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.