T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC trimmed its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,687 shares of the asset manager’s stock after selling 334 shares during the quarter. Parallel Advisors LLC’s holdings in T. Rowe Price Group were worth $643,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Creative Financial Designs Inc. ADV raised its stake in shares of T. Rowe Price Group by 2.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 9,242 shares of the asset manager’s stock worth $1,045,000 after buying an additional 192 shares during the period. SlateStone Wealth LLC raised its stake in shares of T. Rowe Price Group by 3.4% during the 4th quarter. SlateStone Wealth LLC now owns 7,685 shares of the asset manager’s stock worth $869,000 after buying an additional 250 shares during the period. GWN Securities Inc. acquired a new position in shares of T. Rowe Price Group during the 4th quarter worth approximately $234,000. Glenview Trust co raised its stake in T. Rowe Price Group by 2.2% in the 4th quarter. Glenview Trust co now owns 4,318 shares of the asset manager’s stock valued at $488,000 after purchasing an additional 92 shares during the last quarter. Finally, Choate Investment Advisors acquired a new position in T. Rowe Price Group in the 4th quarter valued at $289,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the transaction, the vice president now directly owns 36,800 shares in the company, valued at $4,021,136. This trade represents a 10.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TROW has been the subject of several recent research reports. Barclays reduced their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Wells Fargo & Company reduced their price objective on T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Finally, Morgan Stanley reduced their price objective on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $114.09.

T. Rowe Price Group Trading Down 1.1 %

NASDAQ TROW opened at $93.04 on Friday. The stock has a market cap of $20.71 billion, a PE ratio of 10.16, a P/E/G ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a twelve month low of $91.37 and a twelve month high of $125.81. The stock has a fifty day simple moving average of $106.71 and a 200-day simple moving average of $111.23.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period in the previous year, the firm earned $1.72 EPS. Research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 5.46%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, March 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.46%.

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.