T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock Position Cut by Accel Wealth Management

Accel Wealth Management trimmed its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 14.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,006 shares of the asset manager’s stock after selling 676 shares during the quarter. Accel Wealth Management’s holdings in T. Rowe Price Group were worth $453,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. AE Wealth Management LLC bought a new position in T. Rowe Price Group during the 2nd quarter valued at $305,000. EverSource Wealth Advisors LLC lifted its holdings in shares of T. Rowe Price Group by 29.9% in the second quarter. EverSource Wealth Advisors LLC now owns 430 shares of the asset manager’s stock valued at $49,000 after buying an additional 99 shares during the period. Public Sector Pension Investment Board boosted its stake in T. Rowe Price Group by 7.6% during the second quarter. Public Sector Pension Investment Board now owns 37,878 shares of the asset manager’s stock valued at $4,368,000 after buying an additional 2,670 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in T. Rowe Price Group by 60.5% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 42,832 shares of the asset manager’s stock worth $4,939,000 after acquiring an additional 16,151 shares during the period. Finally, AXA S.A. raised its position in T. Rowe Price Group by 74.4% in the second quarter. AXA S.A. now owns 257,529 shares of the asset manager’s stock worth $29,696,000 after acquiring an additional 109,888 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. StockNews.com upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Saturday. Keefe, Bruyette & Woods reduced their target price on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a report on Monday, January 13th. Morgan Stanley upped their price target on T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. The Goldman Sachs Group reduced their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research note on Thursday, October 3rd. Finally, Barclays cut their target price on T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $115.82.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $114.21 on Friday. The stock has a market cap of $25.37 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 1.68 and a beta of 1.43. T. Rowe Price Group, Inc. has a fifty-two week low of $100.49 and a fifty-two week high of $125.81. The stock’s 50-day moving average is $117.22 and its two-hundred day moving average is $112.80.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the firm posted $2.17 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.45 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a dividend of $1.24 per share. The ex-dividend date was Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.34%. T. Rowe Price Group’s dividend payout ratio is 54.27%.

Insider Activity at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.00% of the company’s stock.

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.