Johnson Financial Group Inc. Reduces Position in T. Rowe Price Group, Inc. $TROW

Johnson Financial Group Inc. decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 40.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,366 shares of the asset manager’s stock after selling 17,346 shares during the quarter. Johnson Financial Group Inc.’s holdings in T. Rowe Price Group were worth $2,448,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in T. Rowe Price Group by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 26,416,718 shares of the asset manager’s stock valued at $2,549,213,000 after acquiring an additional 130,325 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of T. Rowe Price Group by 1.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 7,846,636 shares of the asset manager’s stock valued at $757,200,000 after purchasing an additional 140,385 shares during the period. Geode Capital Management LLC boosted its stake in shares of T. Rowe Price Group by 3.4% during the second quarter. Geode Capital Management LLC now owns 6,014,236 shares of the asset manager’s stock valued at $578,059,000 after purchasing an additional 197,024 shares during the period. Invesco Ltd. grew its holdings in shares of T. Rowe Price Group by 43.2% in the first quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock worth $315,453,000 after purchasing an additional 1,035,865 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in T. Rowe Price Group by 4.9% in the 1st quarter. American Century Companies Inc. now owns 2,955,703 shares of the asset manager’s stock worth $271,541,000 after buying an additional 138,515 shares during the period. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Trading Up 0.9%

Shares of NASDAQ TROW opened at $102.09 on Thursday. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The stock’s fifty day simple moving average is $102.98 and its two-hundred day simple moving average is $101.78. The stock has a market capitalization of $22.28 billion, a PE ratio of 11.41, a price-to-earnings-growth ratio of 5.61 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, topping the consensus estimate of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the company posted $2.57 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 9.29 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 Tuesday, December 30th. Stockholders of record on Monday, December 15th will be given a $1.27 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.0%. T. Rowe Price Group’s payout ratio is presently 55.34%.

Insider Activity

In related news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the transaction, the director owned 47,335 shares in the company, valued at $4,970,648.35. The trade was a 6.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TROW has been the subject of several research reports. Barclays set a $101.00 price objective on shares of T. Rowe Price Group in a research report on Monday, November 3rd. Deutsche Bank Aktiengesellschaft boosted their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a report on Friday, November 14th. Zacks Research upgraded T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Wednesday, October 8th. Finally, TD Cowen increased their price target on T. Rowe Price Group from $108.00 to $112.00 and gave the stock a “hold” rating in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $109.00.

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.