Oak Asset Management LLC Reduces Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Oak Asset Management LLC cut its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,268 shares of the asset manager’s stock after selling 1,260 shares during the period. Oak Asset Management LLC’s holdings in T. Rowe Price Group were worth $1,861,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Creative Financial Designs Inc. ADV increased its position in shares of T. Rowe Price Group by 83.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 106 shares during the last quarter. First United Bank & Trust acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at $31,000. Park Place Capital Corp boosted its holdings in shares of T. Rowe Price Group by 1,775.0% in the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after buying an additional 284 shares in the last quarter. Fortitude Family Office LLC acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at $33,000. Finally, CVA Family Office LLC acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at $39,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $115.31 on Monday. The stock has a market cap of $25.75 billion, a P/E ratio of 13.69, a P/E/G ratio of 1.97 and a beta of 1.43. The firm has a fifty day moving average price of $114.98 and a 200 day moving average price of $112.92. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, topping the consensus estimate of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the business earned $1.69 EPS. The business’s revenue was up 13.8% on a year-over-year basis. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 8.84 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Friday, June 14th were paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.30%. The ex-dividend date was Friday, June 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TROW shares. TD Cowen upgraded shares of 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 report on Monday, April 8th. Citigroup upped their target price on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Keefe, Bruyette & Woods upgraded shares of 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 report on Thursday, April 11th. Evercore ISI lowered their target price on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a report on Tuesday, April 30th. Finally, UBS Group increased their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. Four research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $112.10.

Insider Transactions at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the sale, the insider now owns 14,198 shares in the company, valued at approximately $1,644,838.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction dated Monday, April 29th. The shares were 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 in the company, valued at approximately $3,916,525.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 1,401 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the transaction, the insider now owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,444 shares of company stock worth $740,408. 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.