T. Rowe Price Group, Inc. (NASDAQ:TROW) Position Reduced by Simplicity Solutions LLC

Simplicity Solutions LLC cut its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 13.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,937 shares of the asset manager’s stock after selling 454 shares during the quarter. Simplicity Solutions LLC’s holdings in T. Rowe Price Group were worth $316,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. OFI Invest Asset Management purchased a new position in T. Rowe Price Group during the 3rd quarter valued at about $25,000. Creative Financial Designs Inc. ADV grew its stake in T. Rowe Price Group by 83.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 106 shares in the last quarter. PCA Investment Advisory Services Inc. purchased a new position in T. Rowe Price Group during the 2nd quarter valued at about $26,000. Park Place Capital Corp grew its stake in T. Rowe Price Group by 1,775.0% during the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 284 shares in the last quarter. Finally, Fortitude Family Office LLC purchased a new position in T. Rowe Price Group during the 4th quarter valued at about $33,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Up 0.0 %

Shares of T. Rowe Price Group stock opened at $108.73 on Friday. The stock has a market capitalization of $24.32 billion, a P/E ratio of 14.01, a PEG ratio of 2.04 and a beta of 1.40. The stock has a 50 day moving average price of $114.72 and a two-hundred day moving average price of $106.74. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.12. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The company’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.74 earnings per share. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 8.37 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $1.24 per share. The ex-dividend date was Thursday, March 14th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.22. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.56%. T. Rowe Price Group’s payout ratio is 63.92%.

Insider Transactions at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 1,138 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the transaction, the insider now directly owns 14,113 shares in the company, valued at $1,511,925.69. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the transaction, the director now directly owns 21,073 shares in the company, valued at $2,493,357.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 1,138 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the completion of the transaction, the insider now owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

TROW has been the topic of several research analyst reports. Wells Fargo & Company lifted their target price on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a research note on Friday, February 9th. UBS Group boosted their price target on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Morgan Stanley boosted their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday. Citigroup boosted their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Finally, TD Cowen raised T. Rowe Price Group from a “sell” rating to a “hold” rating and boosted their price target for the company from $92.00 to $114.00 in a research note on Monday, April 8th. Four research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $112.67.

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.