Sawgrass Asset Management LLC Sells 1,833 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Sawgrass Asset Management LLC cut its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 22.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 6,235 shares of the asset manager’s stock after selling 1,833 shares during the period. Sawgrass Asset Management LLC’s holdings in T. Rowe Price Group were worth $705,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in shares of T. Rowe Price Group by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock valued at $745,169,000 after buying an additional 231,286 shares during the last quarter. Geode Capital Management LLC boosted its position in T. Rowe Price Group by 0.5% in the third quarter. Geode Capital Management LLC now owns 5,515,198 shares of the asset manager’s stock worth $598,801,000 after purchasing an additional 25,481 shares during the last quarter. Provident Trust Co. boosted its position in T. Rowe Price Group by 0.3% in the third quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager’s stock worth $261,185,000 after purchasing an additional 7,905 shares during the last quarter. Fisher Asset Management LLC boosted its position in T. Rowe Price Group by 2.6% in the third quarter. Fisher Asset Management LLC now owns 1,861,454 shares of the asset manager’s stock worth $202,768,000 after purchasing an additional 47,998 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in T. Rowe Price Group by 4.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,375,306 shares of the asset manager’s stock worth $149,812,000 after purchasing an additional 53,997 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Insider Transactions at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the transaction, the vice president now owns 119,577 shares in the company, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value of $449,318.24. Following the transaction, the vice president now owns 36,800 shares of the company’s stock, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Down 1.9 %

Shares of TROW opened at $106.92 on Thursday. T. Rowe Price Group, Inc. has a 12-month low of $100.49 and a 12-month high of $125.81. The business’s 50 day moving average is $115.21 and its 200 day moving average is $112.48. The company has a market capitalization of $23.75 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.61%. During the same period in the prior year, the company posted $1.72 earnings per share. Equities research analysts predict that T. Rowe Price Group, Inc. will post 9.36 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $1.27 dividend. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date is Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.75%. T. Rowe Price Group’s payout ratio is 54.15%.

Analyst Upgrades and Downgrades

TROW has been the topic of several research reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised their target price on 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. Evercore ISI raised their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Morgan Stanley raised 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. Finally, Wells Fargo & Company decreased their price objective on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $115.09.

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.