OLD Point Trust & Financial Services N A Sells 250 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

OLD Point Trust & Financial Services N A lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,465 shares of the asset manager’s stock after selling 250 shares during the period. OLD Point Trust & Financial Services N A’s holdings in T. Rowe Price Group were worth $1,070,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Addison Advisors LLC grew its holdings in T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock worth $26,000 after acquiring an additional 93 shares during the last quarter. Curio Wealth LLC purchased a new stake in shares of T. Rowe Price Group during the fourth quarter worth about $27,000. Y.D. More Investments Ltd grew its stake in shares of T. Rowe Price Group by 124.0% in the fourth quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock worth $32,000 after purchasing an additional 155 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in T. Rowe Price Group during the 4th quarter valued at about $32,000. Finally, Advantage Trust Co raised its position in T. Rowe Price Group by 48.8% during the 4th quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 100 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total value 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. The trade was a 10.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Up 0.5 %

Shares of TROW opened at $94.05 on Thursday. The business’s 50 day moving average price is $107.10 and its 200-day moving average price is $111.36. The stock has a market cap of $20.94 billion, a P/E ratio of 10.27, a P/E/G ratio of 2.86 and a beta of 1.46. T. Rowe Price Group, Inc. has a 52 week low of $91.37 and a 52 week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same period in the prior year, the company earned $1.72 EPS. On average, equities analysts anticipate 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. Shareholders of record on Friday, March 14th will be issued a $1.27 dividend. The ex-dividend date is Friday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a yield of 5.40%. T. Rowe Price Group’s payout ratio is 55.46%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TROW. Morgan Stanley cut their price objective on T. Rowe Price Group from $126.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. Barclays cut their price target on shares of T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a report on Thursday, February 6th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Finally, Wells Fargo & Company decreased their price target on shares of 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. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $114.09.

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.