T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Sheets Smith Wealth Management

Sheets Smith Wealth Management decreased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 96.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 113 shares of the asset manager’s stock after selling 2,885 shares during the period. Sheets Smith Wealth Management’s holdings in T. Rowe Price Group were worth $336,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Heritage Wealth Management LLC increased its holdings in shares of T. Rowe Price Group by 130.0% in the 4th quarter. Heritage Wealth Management LLC now owns 230 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 130 shares during the last quarter. Pacifica Partners Inc. lifted its holdings in shares of T. Rowe Price Group by 400.0% in the 1st quarter. Pacifica Partners Inc. now owns 250 shares of the asset manager’s stock valued at $27,000 after buying an additional 200 shares during the period. Carmel Capital Partners LLC acquired a new stake in shares of T. Rowe Price Group in the 1st quarter valued at approximately $35,000. ICA Group Wealth Management LLC purchased a new position in T. Rowe Price Group in the 4th quarter valued at approximately $45,000. Finally, Clear Street Markets LLC increased its stake in T. Rowe Price Group by 95.6% in the 1st quarter. Clear Street Markets LLC now owns 442 shares of the asset manager’s stock valued at $50,000 after purchasing an additional 216 shares in the last quarter. Institutional investors and hedge funds own 75.85% of the company’s stock.

T. Rowe Price Group Trading Down 0.7 %

Shares of TROW opened at $109.24 on Monday. The stock has a market cap of $24.50 billion, a P/E ratio of 16.28, a PEG ratio of 3.30 and a beta of 1.32. T. Rowe Price Group, Inc. has a 12-month low of $93.53 and a 12-month high of $134.64. The company has a 50-day moving average of $114.24 and a two-hundred day moving average of $111.26.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, July 28th. The asset manager reported $2.02 EPS for the quarter, topping the consensus estimate of $1.73 by $0.29. T. Rowe Price Group had a net margin of 24.73% and a return on equity of 18.30%. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the prior year, the firm earned $1.79 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 7.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Friday, September 15th will be given a $1.22 dividend. The ex-dividend date is Thursday, September 14th. This represents a $4.88 annualized dividend and a dividend yield of 4.47%. T. Rowe Price Group’s dividend payout ratio is 72.73%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Citigroup lifted their target price on T. Rowe Price Group from $98.00 to $100.00 and gave the company a “sell” rating in a report on Friday, July 14th. Morgan Stanley lifted their price target on T. Rowe Price Group from $108.00 to $118.00 and gave the company an “equal weight” rating in a report on Monday, July 31st. StockNews.com started coverage on T. Rowe Price Group in a report on Thursday, August 17th. They set a “hold” rating on the stock. UBS Group boosted their price target on T. Rowe Price Group from $83.00 to $90.00 and gave the company a “sell” rating in a research note on Monday, July 31st. Finally, The Goldman Sachs Group boosted their price objective on T. Rowe Price Group from $89.50 to $100.00 and gave the stock a “sell” rating in a research note on Monday, July 31st. Six investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $96.73.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $111.82, for a total value of $1,338,373.58. Following the completion of the sale, the vice president now directly owns 129,436 shares in the company, valued at $14,473,533.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.10% of the stock is owned by company insiders.

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.