Bank of New York Mellon Corp Sells 48,803 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Bank of New York Mellon Corp decreased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,690,329 shares of the asset manager’s stock after selling 48,803 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.76% of T. Rowe Price Group worth $191,159,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Addison Advisors LLC raised its holdings in shares of T. Rowe Price Group by 67.4% in the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager’s stock valued at $26,000 after buying an additional 93 shares during the last quarter. Y.D. More Investments Ltd increased its position in T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 155 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in shares of T. Rowe Price Group in the fourth quarter worth about $32,000. Advantage Trust Co lifted its position in shares of T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager’s stock worth $34,000 after purchasing an additional 100 shares in the last quarter. Finally, True Wealth Design LLC bought a new stake in shares of T. Rowe Price Group during the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $103.73 on Friday. T. Rowe Price Group, Inc. has a fifty-two week low of $100.49 and a fifty-two week high of $125.81. The firm has a market capitalization of $23.09 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 2.86 and a beta of 1.44. The company’s 50 day simple moving average is $111.96 and its 200 day simple moving average is $112.32.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) 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 quarter last year, the business posted $1.72 earnings per share. As a group, analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently declared 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. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a dividend yield of 4.90%. The ex-dividend date of this dividend is Friday, March 14th. T. Rowe Price Group’s dividend payout ratio is 55.46%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TROW. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Evercore ISI boosted their target price on 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. TD Cowen decreased their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Barclays dropped their price objective on T. Rowe Price Group from $113.00 to $105.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $114.09.

Insiders Place Their Bets

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’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 completion of the transaction, the vice president now owns 119,577 shares in the company, valued at $14,749,822.95. This represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Arif Husain sold 4,112 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total transaction of $449,318.24. Following the sale, the vice president now owns 36,800 shares in the company, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

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.