Triumph Capital Management Sells 486 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Triumph Capital Management cut its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 13.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,057 shares of the asset manager’s stock after selling 486 shares during the quarter. Triumph Capital Management’s holdings in T. Rowe Price Group were worth $346,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Nilsine Partners LLC raised its stake in shares of T. Rowe Price Group by 75.5% during the 4th quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock valued at $623,000 after purchasing an additional 2,370 shares during the period. Amundi raised its stake in shares of T. Rowe Price Group by 30.1% during the 4th quarter. Amundi now owns 1,717,877 shares of the asset manager’s stock valued at $194,064,000 after purchasing an additional 397,278 shares during the period. Schroder Investment Management Group raised its stake in shares of T. Rowe Price Group by 49.4% during the 4th quarter. Schroder Investment Management Group now owns 221,579 shares of the asset manager’s stock valued at $25,229,000 after purchasing an additional 73,307 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of T. Rowe Price Group by 5.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 357,556 shares of the asset manager’s stock valued at $40,436,000 after purchasing an additional 20,062 shares during the period. Finally, Resona Asset Management Co. Ltd. bought a new stake in shares of T. Rowe Price Group during the 4th quarter valued at $9,590,000. 73.39% of the stock is currently owned by institutional investors.

Insider Transactions at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 968 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the sale, the insider now owns 13,611 shares of the company’s stock, valued at approximately $1,319,994.78. The trade was a 6.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert F. Maclellan sold 3,955 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the sale, the director now directly owns 42,979 shares of the company’s stock, valued at approximately $3,935,157.24. This trade represents a 8.43% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

T. Rowe Price Group Trading Up 0.4%

TROW opened at $98.06 on Friday. The stock has a 50-day moving average price of $90.46 and a 200-day moving average price of $105.75. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The stock has a market capitalization of $21.60 billion, a P/E ratio of 10.71, a PEG ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the business earned $2.38 EPS. The company’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date is Friday, June 13th. T. Rowe Price Group’s payout ratio is currently 57.60%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TROW shares. Bank of America decreased their price objective on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a research note on Thursday, April 3rd. Morgan Stanley boosted their price objective on T. Rowe Price Group from $94.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. TD Cowen reduced their target price on T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, April 9th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $113.00 target price (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Finally, Citigroup reduced their target price on T. Rowe Price Group from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Four research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and an average target price of $94.09.

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.