Hills Bank & Trust Co Decreases Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Hills Bank & Trust Co trimmed its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,253 shares of the asset manager’s stock after selling 122 shares during the quarter. Hills Bank & Trust Co’s holdings in T. Rowe Price Group were worth $1,212,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Clear Harbor Asset Management LLC boosted its stake in T. Rowe Price Group by 3.2% during the fourth quarter. Clear Harbor Asset Management LLC now owns 3,240 shares of the asset manager’s stock worth $349,000 after acquiring an additional 100 shares in the last quarter. Caprock Group LLC grew its stake in shares of T. Rowe Price Group by 4.7% in the fourth quarter. Caprock Group LLC now owns 2,251 shares of the asset manager’s stock worth $242,000 after acquiring an additional 101 shares during the period. Roundview Capital LLC increased its holdings in T. Rowe Price Group by 0.5% during the third quarter. Roundview Capital LLC now owns 22,279 shares of the asset manager’s stock valued at $2,336,000 after buying an additional 105 shares during the last quarter. Creative Financial Designs Inc. ADV raised its holdings in T. Rowe Price Group by 83.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after purchasing an additional 106 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of T. Rowe Price Group by 2.6% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,451 shares of the asset manager’s stock valued at $467,000 after buying an additional 114 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

TROW stock traded down $0.19 during midday trading on Thursday, reaching $111.30. The stock had a trading volume of 1,729,639 shares, compared to its average volume of 1,450,859. The firm has a fifty day simple moving average of $115.22 and a two-hundred day simple moving average of $107.71. The stock has a market cap of $24.85 billion, a PE ratio of 13.22, a P/E/G ratio of 1.93 and a beta of 1.40. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $132.76.

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

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend is Friday, June 14th. T. Rowe Price Group’s payout ratio is 58.91%.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the sale, the director now owns 21,073 shares in the company, valued at approximately $2,493,357.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the completion of the transaction, the director now owns 21,073 shares in the company, valued at approximately $2,493,357.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the transaction, the director now owns 34,635 shares in the company, valued at approximately $3,916,525.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,921 shares of company stock valued at $1,500,133. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on TROW shares. JPMorgan Chase & Co. increased their price objective on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. Evercore ISI reduced their target price on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 30th. UBS Group boosted their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a report on Friday, April 12th. Wells Fargo & Company raised their target price on shares of 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. Finally, TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and lifted their price objective for the company from $92.00 to $114.00 in a report on Monday, April 8th. Four equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $112.10.

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.