T. Rowe Price Group, Inc. $TROW Stock Position Decreased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 54.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,431 shares of the asset manager’s stock after selling 20,657 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in T. Rowe Price Group were worth $1,785,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Northern Trust Corp raised its holdings in T. Rowe Price Group by 6.4% during the third quarter. Northern Trust Corp now owns 2,529,116 shares of the asset manager’s stock valued at $259,588,000 after buying an additional 152,451 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of T. Rowe Price Group by 3.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,090,249 shares of the asset manager’s stock worth $214,557,000 after buying an additional 64,791 shares during the period. Caisse de depot et placement du Quebec lifted its position in shares of T. Rowe Price Group by 81.0% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock worth $134,142,000 after buying an additional 584,949 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of T. Rowe Price Group by 5.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 873,092 shares of the asset manager’s stock worth $89,614,000 after acquiring an additional 45,845 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in shares of T. Rowe Price Group by 24.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 767,672 shares of the asset manager’s stock worth $78,794,000 after acquiring an additional 152,318 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Evercore reduced their price objective on T. Rowe Price Group from $106.00 to $104.00 in a report on Monday, May 11th. Keefe, Bruyette & Woods increased their price target on T. Rowe Price Group from $95.00 to $107.00 and gave the company a “market perform” rating in a research note on Friday, May 1st. Weiss Ratings restated a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Friday, May 8th. The Goldman Sachs Group increased their target price on T. Rowe Price Group from $85.00 to $90.00 in a report on Friday, May 1st. Finally, Morgan Stanley set a $105.00 price target on T. Rowe Price Group in a research note on Monday, April 27th. Eleven 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, T. Rowe Price Group has a consensus rating of “Reduce” and an average target price of $99.54.

Insider Transactions at T. Rowe Price Group

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

T. Rowe Price Group Stock Up 0.7%

Shares of TROW stock opened at $104.50 on Thursday. The firm has a 50 day moving average price of $96.71 and a two-hundred day moving average price of $99.20. The company has a market capitalization of $22.39 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 5.31 and a beta of 1.51. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the business posted $2.23 earnings per share. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, research analysts expect that T. Rowe Price Group, Inc. will post 9.63 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.73%.

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.