Cullinan Associates Inc. Sells 400 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Cullinan Associates Inc. lowered its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 11.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,104 shares of the asset manager’s stock after selling 400 shares during the period. Cullinan Associates Inc.’s holdings in T. Rowe Price Group were worth $378,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV grew its position in T. Rowe Price Group by 7.5% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock worth $151,000 after buying an additional 86 shares in the last quarter. ST Germain D J Co. Inc. grew its position in T. Rowe Price Group by 0.3% during the first quarter. ST Germain D J Co. Inc. now owns 31,065 shares of the asset manager’s stock worth $3,787,000 after buying an additional 88 shares in the last quarter. MCF Advisors LLC grew its position in T. Rowe Price Group by 1.6% during the first quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock worth $726,000 after buying an additional 92 shares in the last quarter. Clear Harbor Asset Management LLC boosted its holdings in shares of T. Rowe Price Group by 3.2% in the 4th quarter. Clear Harbor Asset Management LLC now owns 3,240 shares of the asset manager’s stock valued at $349,000 after purchasing an additional 100 shares in the last quarter. Finally, Caprock Group LLC boosted its holdings in shares of T. Rowe Price Group by 4.7% in the 4th quarter. Caprock Group LLC now owns 2,251 shares of the asset manager’s stock valued at $242,000 after purchasing an additional 101 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the sale, the insider now directly owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the sale, the insider now directly owns 14,198 shares in the company, valued at $1,644,838.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the completion of the sale, the vice president now owns 34,710 shares of the company’s stock, valued at $4,061,070. The disclosure for this sale can be found here. Insiders have sold 6,444 shares of company stock valued at $740,408 over the last ninety days. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on TROW. UBS Group raised their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a report on Friday, April 12th. Evercore ISI reduced their target price on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a report on Tuesday, April 30th. TD Cowen raised T. Rowe Price Group from a “sell” rating to a “hold” rating and raised their target price for the company from $92.00 to $114.00 in a report on Monday, April 8th. Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $106.00 to $120.00 in a report on Thursday, April 11th. Finally, Citigroup raised their price objective on T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Four investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $112.10.

View Our Latest Report on TROW

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $114.60 on Wednesday. The company has a market capitalization of $25.59 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 1.97 and a beta of 1.42. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $132.76. The business’s fifty day moving average is $115.03 and its 200 day moving average is $112.96.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last announced its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm 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 earnings per share. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 8.84 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were paid a $1.24 dividend. The ex-dividend date was Friday, June 14th. This represents a $4.96 annualized dividend and a dividend yield of 4.33%. T. Rowe Price Group’s payout ratio is presently 58.91%.

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.

See Also

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

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