Rothschild Investment LLC Lowers Stock Position in T. Rowe Price Group, Inc. $TROW

Rothschild Investment LLC cut its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 67.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,371 shares of the asset manager’s stock after selling 4,859 shares during the period. Rothschild Investment LLC’s holdings in T. Rowe Price Group were worth $243,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. SBI Okasan Asset Management Co.Ltd. purchased a new position in shares of T. Rowe Price Group during the fourth quarter worth approximately $648,000. Baker Avenue Asset Management LP purchased a new position in shares of T. Rowe Price Group during the fourth quarter worth approximately $239,000. Kingsview Wealth Management LLC grew its position in shares of T. Rowe Price Group by 200.2% during the fourth quarter. Kingsview Wealth Management LLC now owns 9,974 shares of the asset manager’s stock worth $1,021,000 after acquiring an additional 6,651 shares during the last quarter. MTM Investment Management LLC grew its position in shares of T. Rowe Price Group by 3.5% during the fourth quarter. MTM Investment Management LLC now owns 3,167 shares of the asset manager’s stock worth $324,000 after acquiring an additional 107 shares during the last quarter. Finally, Coordinated Financial Services Inc. grew its position in shares of T. Rowe Price Group by 18.9% during the fourth quarter. Coordinated Financial Services Inc. now owns 2,765 shares of the asset manager’s stock worth $283,000 after acquiring an additional 440 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TROW shares. The Goldman Sachs Group raised their target price on shares of T. Rowe Price Group from $85.00 to $90.00 in a research report on Friday, May 1st. Zacks Research upgraded shares of T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 13th. Barclays lifted their price objective on shares of T. Rowe Price Group from $87.00 to $89.00 and gave the company an “underweight” rating in a research report on Friday, May 1st. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating on the stock in a research report on Thursday, February 5th. Finally, Jefferies Financial Group lowered their price objective on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research report on Wednesday, April 8th. Eleven analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $99.54.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $104.53 on Monday. The firm’s fifty day moving average price is $97.35 and its 200 day moving average price is $99.22. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $118.22. The firm has a market cap of $22.40 billion, a price-to-earnings ratio of 11.20, a price-to-earnings-growth ratio of 5.35 and a beta of 1.50.

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

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Monday, June 15th. T. Rowe Price Group’s payout ratio is presently 55.73%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the sale, the vice president directly owned 83,883 shares in the company, valued at approximately $8,603,040.48. The trade was a 3.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

T. Rowe Price Group Company 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.