Harbor Investment Advisory LLC Sells 3,536 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Harbor Investment Advisory LLC trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 17.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,255 shares of the asset manager’s stock after selling 3,536 shares during the quarter. Harbor Investment Advisory LLC’s holdings in T. Rowe Price Group were worth $1,951,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TROW. Iron Horse Wealth Management LLC boosted its position in 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 worth $25,000 after buying an additional 110 shares during the period. Hexagon Capital Partners LLC raised its stake in shares of T. Rowe Price Group by 54.7% during the third 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 last quarter. True Wealth Design LLC acquired a new position in shares of T. Rowe Price Group during the third quarter worth $37,000. Larson Financial Group LLC grew its stake in shares of T. Rowe Price Group by 866.7% in the third 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 last quarter. Finally, Brooklyn Investment Group acquired a new stake in T. Rowe Price Group in the third quarter valued at $43,000. 73.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on TROW shares. Wells Fargo & Company reduced their price target 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. Morgan Stanley upped their target price on T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. Keefe, Bruyette & Woods lowered their price target 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. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Four equities research 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.com, the stock presently has an average rating of “Hold” and an average target price of $115.82.

T. Rowe Price Group Trading Up 1.0 %

NASDAQ:TROW opened at $113.21 on Tuesday. T. Rowe Price Group, Inc. has a 12 month low of $100.49 and a 12 month high of $125.81. The stock has a market capitalization of $25.15 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.67 and a beta of 1.43. The firm has a fifty day simple moving average of $117.71 and a two-hundred day simple moving average of $112.82.

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

T. Rowe Price Group Announces Dividend

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

Insider Buying and Selling

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’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 completion of the sale, the vice president now directly owns 119,577 shares of the company’s stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.00% of the stock is owned by company insiders.

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.