Logan Capital Management Inc. Cuts Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Logan Capital Management Inc. reduced its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 16.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,312 shares of the asset manager’s stock after selling 1,045 shares during the quarter. Logan Capital Management Inc.’s holdings in T. Rowe Price Group were worth $572,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV increased its holdings in T. Rowe Price Group by 83.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 106 shares in the last quarter. First United Bank & Trust acquired a new stake in shares of T. Rowe Price Group in the fourth quarter valued at about $31,000. Park Place Capital Corp raised its holdings in shares of 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 buying an additional 284 shares during the period. Fortitude Family Office LLC acquired a new position in T. Rowe Price Group during the 4th quarter worth approximately $33,000. Finally, CVA Family Office LLC purchased a new position in T. Rowe Price Group in the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analysts Set New Price Targets

TROW has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $106.00 to $120.00 in a report on Thursday, April 11th. Morgan Stanley raised their target price 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, April 17th. Citigroup increased their price objective on shares of 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, Evercore ISI dropped their price target on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 30th. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $112.10.

Read Our Latest Stock Analysis on T. Rowe Price Group

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $115.07 on Tuesday. The business’s fifty day moving average price is $114.48 and its two-hundred day moving average price is $111.24. The company has a market capitalization of $25.70 billion, a P/E ratio of 13.67, a PEG ratio of 1.98 and a beta of 1.43. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $132.76.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last issued its quarterly earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.34. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the firm earned $1.69 EPS. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, research analysts expect that T. Rowe Price Group, Inc. will post 8.8 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.31%. The ex-dividend date is Friday, June 14th. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the transaction, the director now directly owns 34,635 shares in the company, valued at approximately $3,916,525.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.00% of the stock is currently owned by corporate insiders.

About T. Rowe Price Group

(Free Report)

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.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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