Johnson Financial Group Inc. Trims Stake in T. Rowe Price Group, Inc. $TROW

Johnson Financial Group Inc. reduced its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 12.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,390 shares of the asset manager’s stock after selling 4,520 shares during the quarter. Johnson Financial Group Inc.’s holdings in T. Rowe Price Group were worth $2,739,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Woodline Partners LP grew its stake in shares of T. Rowe Price Group by 41.0% during the 1st quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock valued at $1,728,000 after acquiring an additional 5,467 shares during the period. Focus Partners Wealth raised its stake in T. Rowe Price Group by 10.6% during the 1st quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock worth $1,199,000 after acquiring an additional 1,250 shares during the period. EverSource Wealth Advisors LLC raised its stake in T. Rowe Price Group by 44.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager’s stock worth $149,000 after acquiring an additional 478 shares during the period. Jump Financial LLC purchased a new position in T. Rowe Price Group during the second quarter valued at approximately $931,000. Finally, Daiwa Securities Group Inc. lifted its holdings in T. Rowe Price Group by 5.4% during the second quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager’s stock valued at $3,208,000 after purchasing an additional 1,703 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $116.49 on Tuesday. The stock has a market cap of $24.96 billion, a P/E ratio of 12.49, a PEG ratio of 4.23 and a beta of 1.47. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $121.17. The firm’s 50 day moving average price is $109.08 and its 200-day moving average price is $101.39.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.15. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. T. Rowe Price Group’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.23 earnings per share. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 10.07 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.5%. The ex-dividend date was Monday, June 15th. T. Rowe Price Group’s payout ratio is currently 55.73%.

Insider Buying and Selling

In related news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the transaction, the vice president owned 83,883 shares in the company, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. TD Cowen reduced their price objective on shares of T. Rowe Price Group from $108.00 to $107.00 and set a “hold” rating for the company in a research note on Monday. JPMorgan Chase & Co. dropped their target price on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a report on Friday, April 24th. BMO Capital Markets increased their price target on T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a research note on Monday, May 4th. Keefe, Bruyette & Woods increased their price target on T. Rowe Price Group from $107.00 to $120.00 and gave the stock a “market perform” rating in a research note on Friday, July 10th. Finally, Weiss Ratings upgraded T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $104.50.

T. Rowe Price Group Profile

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.