T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. trimmed its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,669 shares of the asset manager’s stock after selling 300 shares during the period. Penobscot Investment Management Company Inc.’s holdings in T. Rowe Price Group were worth $415,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Mitsubishi UFJ Trust & Banking Corp increased its position in T. Rowe Price Group by 6.1% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 354,783 shares of the asset manager’s stock valued at $40,122,000 after acquiring an additional 20,555 shares during the period. Modern Wealth Management LLC purchased a new position in shares of T. Rowe Price Group in the 4th quarter valued at approximately $262,000. Congress Wealth Management LLC DE increased its holdings in shares of T. Rowe Price Group by 5.9% in the fourth quarter. Congress Wealth Management LLC DE now owns 93,074 shares of the asset manager’s stock valued at $10,526,000 after purchasing an additional 5,192 shares during the period. Vanguard Group Inc. raised its stake in shares of T. Rowe Price Group by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager’s stock worth $2,947,559,000 after purchasing an additional 135,203 shares during the last quarter. Finally, Napatree Capital LLC lifted its holdings in shares of T. Rowe Price Group by 10.5% during the fourth quarter. Napatree Capital LLC now owns 7,733 shares of the asset manager’s stock worth $875,000 after purchasing an additional 733 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Buying and Selling

In related news, VP Arif Husain sold 4,112 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the transaction, the vice president now directly owns 36,800 shares in the company, valued at approximately $4,021,136. This represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $94.44 on Thursday. The business’s fifty day moving average price is $105.39 and its two-hundred day moving average price is $111.02. The stock has a market cap of $21.03 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a one year low of $91.37 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period in the previous year, the firm posted $1.72 EPS. As a group, 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $1.27 per share. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.08 annualized dividend and a dividend yield of 5.38%. T. Rowe Price Group’s dividend payout ratio is presently 55.46%.

Analysts Set New Price Targets

Several equities analysts have issued reports on TROW shares. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Wells Fargo & Company cut their price target on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Morgan Stanley reduced their price target on 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. Barclays decreased their price objective on shares of 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, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $114.09.

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.