T. Rowe Price Group, Inc. (NASDAQ:TROW) Position Lessened by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,002 shares of the asset manager’s stock after selling 351 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in T. Rowe Price Group were worth $792,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TROW. Janus Henderson Group PLC grew its holdings in T. Rowe Price Group by 3.8% in the 3rd quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock worth $3,267,000 after buying an additional 1,100 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new position in shares of T. Rowe Price Group during the third quarter valued at $439,000. Orion Portfolio Solutions LLC raised its stake in shares of T. Rowe Price Group by 15.5% during the third quarter. Orion Portfolio Solutions LLC now owns 15,325 shares of the asset manager’s stock valued at $1,669,000 after purchasing an additional 2,053 shares in the last quarter. MML Investors Services LLC lifted its holdings in T. Rowe Price Group by 7.5% in the third quarter. MML Investors Services LLC now owns 28,171 shares of the asset manager’s stock worth $3,069,000 after purchasing an additional 1,973 shares during the period. Finally, Y Intercept Hong Kong Ltd grew its position in T. Rowe Price Group by 23.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 5,895 shares of the asset manager’s stock valued at $642,000 after buying an additional 1,133 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $85.94 on Friday. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The stock’s 50-day moving average is $98.52 and its two-hundred day moving average is $109.29. The firm has a market cap of $19.10 billion, a P/E ratio of 9.38, a PEG ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results 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 net margin of 29.61% and a return on equity of 20.83%. During the same quarter last year, the firm earned $1.72 earnings per share. As a group, research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 5.91%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. T. Rowe Price Group’s dividend payout ratio is 55.46%.

Insider Activity

In other T. Rowe Price Group news, VP Arif Husain sold 4,112 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the sale, the vice president now directly owns 36,800 shares in the company, valued at $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the business’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the transaction, the director now directly owns 42,979 shares of the company’s stock, valued at $3,935,157.24. This represents a 8.43 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on TROW shares. Morgan Stanley decreased their price objective on shares of T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Bank of America lowered their price target on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a research report on Thursday, April 3rd. Wells Fargo & Company cut their price objective on T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating for the company in a report on Tuesday. Barclays lowered their target price on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Finally, Citigroup cut their price target on shares of T. Rowe Price Group from $120.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, March 31st. Five equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $104.75.

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.