Obermeyer Wood Investment Counsel Lllp Sells 393 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Obermeyer Wood Investment Counsel Lllp lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 8.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,326 shares of the asset manager’s stock after selling 393 shares during the quarter. Obermeyer Wood Investment Counsel Lllp’s holdings in T. Rowe Price Group were worth $466,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in T. Rowe Price Group in the third quarter valued at about $25,000. Creative Financial Designs Inc. ADV increased its holdings in T. Rowe Price Group by 83.5% in the fourth 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 during the last quarter. PCA Investment Advisory Services Inc. bought a new stake in T. Rowe Price Group in the second quarter valued at about $26,000. Park Place Capital Corp increased its holdings in T. Rowe Price Group by 1,775.0% in the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 284 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new stake in shares of T. Rowe Price Group in the fourth quarter worth about $33,000. Institutional investors own 73.39% of the company’s stock.

Analyst Ratings Changes

TROW has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price target on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a report on Tuesday. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Citigroup increased their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Keefe, Bruyette & Woods upgraded T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $106.00 to $120.00 in a report on Thursday, April 11th. Finally, TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and increased their price target for the stock from $92.00 to $114.00 in a report 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 an average price target of $112.67.

Insider Transactions at T. Rowe Price Group

In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the sale, the director now directly owns 21,073 shares in the company, valued at $2,493,357.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the sale, the insider now directly owns 14,113 shares in the company, valued at $1,511,925.69. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Down 2.4 %

TROW traded down $2.67 during midday trading on Thursday, hitting $108.72. 2,484,741 shares of the company were exchanged, compared to its average volume of 1,408,567. The firm has a market capitalization of $24.31 billion, a P/E ratio of 14.35, a P/E/G ratio of 2.16 and a beta of 1.40. The firm’s 50 day moving average price is $114.67 and its 200-day moving average price is $106.69. 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:TROW) last issued its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.72 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 analyst estimates 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 for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.74 EPS. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 8.13 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

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

T. Rowe Price Group Company 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.