Sky Investment Group LLC Reduces Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Sky Investment Group LLC cut its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 52,731 shares of the asset manager’s stock after selling 1,845 shares during the period. Sky Investment Group LLC’s holdings in T. Rowe Price Group were worth $5,963,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Guinness Asset Management LTD increased its position in T. Rowe Price Group by 65.9% during the 4th quarter. Guinness Asset Management LTD now owns 3,770 shares of the asset manager’s stock valued at $426,000 after purchasing an additional 1,497 shares during the period. Eldred Rock Partners LLC increased its position in shares of T. Rowe Price Group by 0.4% during the fourth quarter. Eldred Rock Partners LLC now owns 69,078 shares of the asset manager’s stock valued at $7,834,000 after buying an additional 242 shares during the period. City Holding Co. raised its stake in T. Rowe Price Group by 3.6% in the fourth quarter. City Holding Co. now owns 3,622 shares of the asset manager’s stock worth $410,000 after buying an additional 127 shares in the last quarter. Ellsworth Advisors LLC purchased a new stake in T. Rowe Price Group in the fourth quarter worth about $4,748,000. Finally, Steigerwald Gordon & Koch Inc. boosted its position in T. Rowe Price Group by 1.3% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 119,514 shares of the asset manager’s stock valued at $13,516,000 after acquiring an additional 1,512 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

TROW has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lowered their target price on T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. Evercore ISI raised their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft upped their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. TD Cowen lowered their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Finally, Wells Fargo & Company dropped their price objective on shares of T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $115.82.

Insider Buying and Selling

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 value 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $113.21 on Tuesday. T. Rowe Price Group, Inc. has a one year low of $100.49 and a one year high of $125.81. The stock has a 50-day moving average of $117.71 and a 200 day moving average of $112.82. The company has a market capitalization of $25.15 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.67 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the business posted $2.17 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 9.45 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a $1.24 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.38%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 54.27%.

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.