T. Rowe Price Group, Inc. $TROW Stake Trimmed by PARK CIRCLE Co

PARK CIRCLE Co reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 19.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,041 shares of the asset manager’s stock after selling 13,304 shares during the quarter. T. Rowe Price Group makes up about 4.8% of PARK CIRCLE Co’s investment portfolio, making the stock its 6th largest holding. PARK CIRCLE Co’s holdings in T. Rowe Price Group were worth $5,752,000 at the end of the most recent reporting period.

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

Insider Transactions at T. Rowe Price Group

In other news, VP Arif Husain sold 4,260 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total value of $434,349.60. Following the sale, the vice president directly owned 47,102 shares in the company, valued at approximately $4,802,519.92. This represents a 8.29% decrease in their ownership of the stock. 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 insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. TD Cowen dropped their price target on T. Rowe Price Group from $109.00 to $97.00 and set a “hold” rating for the company in a research note on Thursday, February 5th. BMO Capital Markets lowered their target price on shares of T. Rowe Price Group from $110.00 to $104.00 and set a “market perform” rating on the stock in a report on Thursday, February 12th. The Goldman Sachs Group cut their target price on shares of T. Rowe Price Group from $95.00 to $90.00 and set a “sell” rating for the company in a research note on Thursday, February 5th. Evercore reduced their price target on shares of T. Rowe Price Group from $116.00 to $106.00 and set an “in-line” rating on the stock in a report on Thursday, February 5th. Finally, Morgan Stanley dropped their price objective on shares of T. Rowe Price Group from $123.00 to $115.00 and set an “equal weight” rating for the company in a report on Tuesday, February 10th. Twelve investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $102.50.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $93.76 on Tuesday. The firm has a market capitalization of $20.46 billion, a PE ratio of 10.14, a PEG ratio of 4.84 and a beta of 1.53. The stock’s fifty day moving average is $103.19 and its 200 day moving average is $103.97. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Wednesday, February 4th. The asset manager reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.03). The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.36%. The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.12 EPS. Equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be given a $1.30 dividend. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Monday, March 16th. This represents a $5.20 dividend on an annualized basis and a yield of 5.5%. T. Rowe Price Group’s dividend payout ratio is currently 54.92%.

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.