Williams Jones Wealth Management LLC. Sells 6,192 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Williams Jones Wealth Management LLC. trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.9% during the 4th quarter, Holdings Channel reports. The firm owned 211,023 shares of the asset manager’s stock after selling 6,192 shares during the period. Williams Jones Wealth Management LLC.’s holdings in T. Rowe Price Group were worth $23,865,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several research analysts have weighed in on TROW shares. Barclays upped their price target on T. Rowe Price Group from $85.00 to $90.00 and gave the stock an “underweight” rating in a research note on Monday, May 5th. Bank of America dropped their target price on shares of T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating for the company in a research report on Thursday, April 3rd. JPMorgan Chase & Co. cut their target price on shares of T. Rowe Price Group from $110.00 to $90.00 and set an “underweight” rating for the company in a research note on Wednesday, April 16th. TD Cowen decreased their price target on shares of T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, April 9th. Finally, StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Four research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. According to MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and an average target price of $94.09.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 968 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the sale, the insider now directly owns 13,611 shares of the company’s stock, valued at approximately $1,319,994.78. This trade represents a 6.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 42,979 shares in the company, valued at $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 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $97.96 on Tuesday. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81. The business’s 50 day moving average is $90.55 and its two-hundred day moving average is $105.63. The stock has a market capitalization of $21.58 billion, a P/E ratio of 10.69, a PEG ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the company posted $2.38 EPS. The company’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 5.19%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group’s dividend payout ratio is currently 57.60%.

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.