Legacy Financial Strategies LLC Sells 215 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Legacy Financial Strategies LLC cut its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,004 shares of the asset manager’s stock after selling 215 shares during the quarter. Legacy Financial Strategies LLC’s holdings in T. Rowe Price Group were worth $2,022,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TROW. GAMMA Investing LLC raised its position in shares of T. Rowe Price Group by 9,555.5% in the 1st quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager’s stock valued at $30,612,000 after purchasing an additional 329,761 shares during the last quarter. Exeter Financial LLC raised its position in shares of T. Rowe Price Group by 1.3% in the 1st quarter. Exeter Financial LLC now owns 26,132 shares of the asset manager’s stock valued at $2,401,000 after purchasing an additional 325 shares during the last quarter. Versant Capital Management Inc raised its position in shares of T. Rowe Price Group by 763.3% in the 1st quarter. Versant Capital Management Inc now owns 1,554 shares of the asset manager’s stock valued at $143,000 after purchasing an additional 1,374 shares during the last quarter. Cullen Investment Group LTD. raised its position in shares of T. Rowe Price Group by 0.9% in the 1st quarter. Cullen Investment Group LTD. now owns 13,554 shares of the asset manager’s stock valued at $1,245,000 after purchasing an additional 117 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of T. Rowe Price Group by 30.9% in the 4th quarter. Wellington Management Group LLP now owns 72,092 shares of the asset manager’s stock valued at $8,153,000 after purchasing an additional 16,999 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Insider Transactions at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 968 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $96.98, for a total transaction of $93,876.64. Following the sale, the insider now owns 13,611 shares of the company’s stock, valued at $1,319,994.78. This trade represents a 6.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the transaction, the director now owns 42,979 shares in the company, valued at $3,935,157.24. This trade represents a 8.43% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

TROW has been the subject of several research analyst reports. Bank of America decreased their price objective on shares of T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating for the company in a research report on Thursday, April 3rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Morgan Stanley increased their price objective on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Citigroup decreased their price objective on shares of T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Finally, Barclays increased their price target on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the stock an “underweight” rating in a report on Monday, May 5th. Four research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $94.09.

T. Rowe Price Group Trading Down 1.0%

Shares of NASDAQ:TROW opened at $93.33 on Friday. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The company’s 50 day moving average is $90.66 and its 200 day moving average is $104.36. The company has a market cap of $20.56 billion, a PE ratio of 10.19, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.10. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.80 billion. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The business’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the company earned $2.38 EPS. Equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a dividend of $1.27 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.44%. T. Rowe Price Group’s payout ratio is 57.60%.

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.