T. Rowe Price Group, Inc. $TROW Shares Sold by North Star Asset Management Inc.

North Star Asset Management Inc. lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 157,509 shares of the asset manager’s stock after selling 9,132 shares during the quarter. North Star Asset Management Inc. owned approximately 0.07% of T. Rowe Price Group worth $16,167,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. TD Waterhouse Canada Inc. increased its holdings in shares of T. Rowe Price Group by 66.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 100 shares during the last quarter. Root Financial Partners LLC purchased a new stake in T. Rowe Price Group during the third quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC boosted its holdings in T. Rowe Price Group by 120.0% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 174 shares in the last quarter. Salomon & Ludwin LLC boosted its holdings in T. Rowe Price Group by 84.3% in the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 145 shares in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in T. Rowe Price Group in the second quarter valued at approximately $35,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total value of $434,349.60. Following the transaction, the vice president directly owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. The trade was a 8.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is currently owned by company insiders.

T. Rowe Price Group Stock Up 1.9%

NASDAQ TROW opened at $94.80 on Wednesday. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $118.22. The business’s 50-day moving average price is $101.99 and its 200 day moving average price is $103.53. The firm has a market cap of $20.67 billion, a P/E ratio of 10.25, a P/E/G ratio of 4.80 and a beta of 1.53.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Wednesday, February 4th. The asset manager reported $2.44 EPS for the quarter, missing the consensus estimate of $2.47 by ($0.03). T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.29%. The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the prior year, the company earned $2.12 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. As a group, analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be issued a dividend of $1.30 per share. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.27. This represents a $5.20 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Monday, March 16th. T. Rowe Price Group’s dividend payout ratio is 54.92%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TROW. Evercore lowered their target price on shares of T. Rowe Price Group from $116.00 to $106.00 and set an “in-line” rating for the company in a report on Thursday, February 5th. JPMorgan Chase & Co. reduced their price target on shares of T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating for the company in a research report on Thursday, February 5th. Bank of America upped their price objective on shares of T. Rowe Price Group from $85.00 to $86.00 in a research note on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft cut their target price on T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating on the stock in a research report on Thursday, February 5th. Finally, Argus raised T. Rowe Price Group to a “hold” rating in a research report on Thursday, February 5th. Twelve analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $102.23.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.