International Assets Investment Management LLC Sells 1,058,305 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

International Assets Investment Management LLC lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 99.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,350 shares of the asset manager’s stock after selling 1,058,305 shares during the quarter. International Assets Investment Management LLC’s holdings in T. Rowe Price Group were worth $1,061,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Private Advisor Group LLC boosted its holdings in shares of T. Rowe Price Group by 5.5% in the second quarter. Private Advisor Group LLC now owns 10,926 shares of the asset manager’s stock valued at $1,260,000 after purchasing an additional 571 shares during the period. Acadian Asset Management LLC bought a new stake in T. Rowe Price Group during the 2nd quarter valued at $401,000. Caprock Group LLC lifted its holdings in shares of T. Rowe Price Group by 58.6% in the 2nd quarter. Caprock Group LLC now owns 3,599 shares of the asset manager’s stock worth $415,000 after buying an additional 1,330 shares during the period. PFG Investments LLC bought a new position in shares of T. Rowe Price Group during the 2nd quarter worth $341,000. Finally, Wedbush Securities Inc. increased its stake in shares of T. Rowe Price Group by 5.4% during the second quarter. Wedbush Securities Inc. now owns 7,711 shares of the asset manager’s stock valued at $889,000 after buying an additional 393 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction that occurred on 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 in the company, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $112.84 on Friday. T. Rowe Price Group, Inc. has a fifty-two week low of $100.49 and a fifty-two week high of $125.81. The firm has a market capitalization of $25.07 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 1.73 and a beta of 1.43. The stock’s 50-day simple moving average is $118.28 and its 200-day simple moving average is $113.04.

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, beating 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 business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the business posted $2.17 EPS. T. Rowe Price Group’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were given a dividend of $1.24 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.40%. T. Rowe Price Group’s dividend payout ratio is currently 54.27%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TROW. Morgan Stanley increased their target price on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. The Goldman Sachs Group dropped their price objective on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. JPMorgan Chase & Co. reduced 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 note on Monday, November 4th. Evercore ISI lifted their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company boosted their price target on T. Rowe Price Group from $112.00 to $124.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and a consensus target price of $117.00.

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.