Folger Nolan Fleming Douglas Capital Management Inc. Cuts Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Folger Nolan Fleming Douglas Capital Management Inc. lessened its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 96,172 shares of the asset manager’s stock after selling 1,439 shares during the period. T. Rowe Price Group comprises 1.1% of Folger Nolan Fleming Douglas Capital Management Inc.’s portfolio, making the stock its 24th largest holding. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in T. Rowe Price Group were worth $10,357,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TROW. International Assets Investment Management LLC lifted its stake in shares of T. Rowe Price Group by 8,968.6% in the fourth quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager’s stock worth $97,152,000 after buying an additional 892,198 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in T. Rowe Price Group during the third quarter valued at approximately $21,114,000. Robeco Institutional Asset Management B.V. lifted its position in T. Rowe Price Group by 282.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 201,435 shares of the asset manager’s stock valued at $21,124,000 after purchasing an additional 148,787 shares during the period. Charles Schwab Investment Management Inc. lifted its position in T. Rowe Price Group by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock valued at $513,874,000 after purchasing an additional 134,839 shares during the period. Finally, Invesco Ltd. lifted its position in T. Rowe Price Group by 7.6% during the third quarter. Invesco Ltd. now owns 1,684,057 shares of the asset manager’s stock valued at $176,607,000 after purchasing an additional 119,305 shares during the period. Institutional investors own 73.39% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at $1,511,925.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction on 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 transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW traded up $5.19 during midday trading on Friday, reaching $114.02. The stock had a trading volume of 2,943,278 shares, compared to its average volume of 1,335,708. The stock has a 50-day moving average of $115.10 and a 200-day moving average of $107.07. The company has a market capitalization of $25.50 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 2.04 and a beta of 1.40. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.69 earnings per share. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 8.36 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $1.24 dividend. The ex-dividend date was Thursday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.22. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.35%. T. Rowe Price Group’s dividend payout ratio is 63.92%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $106.00 to $120.00 in a research report on Thursday, April 11th. Morgan Stanley increased their price objective on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. Wells Fargo & Company increased their price objective on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. TD Cowen raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their target price for the company from $92.00 to $114.00 in a report on Monday, April 8th. Finally, UBS Group upped their target price on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a report on Friday, April 12th. Four investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $112.67.

About T. Rowe Price Group

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.