Burney Co. Trims Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Burney Co. lowered its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 23.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 182,799 shares of the asset manager’s stock after selling 55,524 shares during the quarter. T. Rowe Price Group comprises approximately 0.7% of Burney Co.’s portfolio, making the stock its 29th biggest position. Burney Co.’s holdings in T. Rowe Price Group were worth $20,673,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in T. Rowe Price Group in the second quarter worth about $401,000. LPL Financial LLC grew its stake in shares of T. Rowe Price Group by 9.8% in the 2nd quarter. LPL Financial LLC now owns 270,738 shares of the asset manager’s stock worth $31,219,000 after buying an additional 24,075 shares during the last quarter. Thoroughbred Financial Services LLC bought a new position in T. Rowe Price Group during the 2nd quarter valued at approximately $467,000. Dimensional Fund Advisors LP raised its stake in T. Rowe Price Group by 15.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock valued at $185,810,000 after buying an additional 220,105 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT boosted its holdings in T. Rowe Price Group by 3.1% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 10,214 shares of the asset manager’s stock worth $1,178,000 after acquiring an additional 310 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction 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 sale, the vice president now owns 119,577 shares in the company, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is owned by insiders.

T. Rowe Price Group Price Performance

TROW opened at $115.00 on Wednesday. The company has a 50 day simple moving average of $118.12 and a two-hundred day simple moving average of $112.86. The firm has a market cap of $25.55 billion, a P/E ratio of 12.58, a PEG ratio of 1.73 and a beta of 1.43. T. Rowe Price Group, Inc. has a 1-year low of $100.49 and a 1-year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.21. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. T. Rowe Price Group’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.17 EPS. Equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.31%. The ex-dividend date was Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.27%.

Wall Street Analyst Weigh In

TROW has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. The Goldman Sachs Group reduced their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research note on Thursday, October 3rd. Wells Fargo & Company lowered 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 report on Tuesday. Finally, Evercore ISI lifted their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. 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, T. Rowe Price Group has an average rating of “Hold” and a consensus target price of $116.00.

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.