Pinnacle Wealth Management Advisory Group LLC Has $550,000 Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Pinnacle Wealth Management Advisory Group LLC decreased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 17.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 5,107 shares of the asset manager’s stock after selling 1,074 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in T. Rowe Price Group were worth $550,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of T. Rowe Price Group by 19.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,659 shares of the asset manager’s stock valued at $7,305,000 after acquiring an additional 11,354 shares during the period. IFM Investors Pty Ltd lifted its position in T. Rowe Price Group by 3.0% during the 3rd quarter. IFM Investors Pty Ltd now owns 44,553 shares of the asset manager’s stock valued at $4,672,000 after purchasing an additional 1,281 shares during the period. Advisor Partners II LLC boosted its stake in shares of T. Rowe Price Group by 20.2% in the 3rd quarter. Advisor Partners II LLC now owns 16,619 shares of the asset manager’s stock valued at $1,743,000 after purchasing an additional 2,796 shares during the last quarter. Graypoint LLC grew its position in shares of T. Rowe Price Group by 34.7% during the 3rd quarter. Graypoint LLC now owns 2,448 shares of the asset manager’s stock worth $257,000 after buying an additional 630 shares during the period. Finally, Emerald Advisers LLC raised its stake in shares of T. Rowe Price Group by 51.0% during the third quarter. Emerald Advisers LLC now owns 3,061 shares of the asset manager’s stock worth $321,000 after buying an additional 1,034 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the sale, the insider now owns 14,113 shares in the company, valued at approximately $1,511,925.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction on Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the sale, the insider now directly owns 14,113 shares in the company, valued at approximately $1,511,925.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the sale, the director now directly owns 34,635 shares in the company, valued at $3,916,525.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,921 shares of company stock worth $1,500,133. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on TROW. Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $106.00 to $120.00 in a research note on Thursday, April 11th. Wells Fargo & Company raised their price target on T. Rowe Price Group from $105.00 to $108.00 and gave the stock an “underweight” rating in a research report on Friday, February 9th. TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their price objective for the company from $92.00 to $114.00 in a report on Monday, April 8th. UBS Group raised their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Finally, Evercore ISI lowered their price target on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research note on Tuesday, April 30th. Four investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $112.10.

T. Rowe Price Group Stock Performance

NASDAQ TROW traded up $0.24 during trading hours on Wednesday, reaching $111.49. 1,167,363 shares of the company’s stock were exchanged, compared to its average volume of 1,447,603. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76. The company’s 50-day moving average is $115.24 and its two-hundred day moving average is $107.68. The company has a market capitalization of $24.90 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 1.93 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.71 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the business posted $1.69 earnings per share. Research analysts predict that T. Rowe Price Group, Inc. will post 8.75 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.45%. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

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.