Kinloch Capital LLC Decreases Stock Holdings in T. Rowe Price Group, Inc. $TROW

Kinloch Capital LLC lowered its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 16.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,095 shares of the asset manager’s stock after selling 5,634 shares during the period. Kinloch Capital LLC’s holdings in T. Rowe Price Group were worth $2,979,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Compound Planning Inc. boosted its position in shares of T. Rowe Price Group by 10.1% during the 4th quarter. Compound Planning Inc. now owns 2,499 shares of the asset manager’s stock worth $256,000 after acquiring an additional 229 shares in the last quarter. Invesco Ltd. increased its holdings in shares of T. Rowe Price Group by 3.9% in the 4th quarter. Invesco Ltd. now owns 3,520,858 shares of the asset manager’s stock valued at $360,465,000 after acquiring an additional 131,438 shares during the last quarter. Corient Private Wealth LLC raised its position in shares of T. Rowe Price Group by 131.5% during the 4th quarter. Corient Private Wealth LLC now owns 78,778 shares of the asset manager’s stock worth $8,065,000 after acquiring an additional 44,745 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in T. Rowe Price Group by 43.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 41,850 shares of the asset manager’s stock worth $4,539,000 after purchasing an additional 12,776 shares during the last quarter. Finally, Achmea Investment Management B.V. lifted its stake in T. Rowe Price Group by 14.7% during the fourth quarter. Achmea Investment Management B.V. now owns 282,525 shares of the asset manager’s stock worth $28,925,000 after purchasing an additional 36,224 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the transaction, the vice president owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. The trade was a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $107.65 on Friday. The stock has a market cap of $23.07 billion, a P/E ratio of 11.54, a P/E/G ratio of 5.53 and a beta of 1.50. The firm has a fifty day moving average price of $102.31 and a 200 day moving average price of $99.80. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the business posted $2.23 earnings per share. T. Rowe Price Group’s quarterly revenue was up 5.3% on a year-over-year basis. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.63 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.73%.

Analyst Upgrades and Downgrades

TROW has been the topic of several recent analyst reports. Zacks Research upgraded shares of T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. TD Cowen boosted their price objective on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a research report on Friday, May 1st. BMO Capital Markets increased their target price on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the company a “market perform” rating in a research report on Monday, May 4th. Barclays lifted their price target on shares of T. Rowe Price Group from $87.00 to $89.00 and gave the stock an “underweight” rating in a research note on Friday, May 1st. Finally, Morgan Stanley set a $105.00 price target on shares of T. Rowe Price Group in a research report on Monday, April 27th. Eleven research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $100.08.

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.