T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lessened its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) by 11.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 316,465 shares of the asset manager’s stock after selling 39,295 shares during the quarter. Hsbc Holdings PLC owned about 0.14% of T. Rowe Price Group worth $48,243,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Crawford Investment Counsel Inc. lifted its position in shares of T. Rowe Price Group by 2.9% in the first quarter. Crawford Investment Counsel Inc. now owns 3,067 shares of the asset manager’s stock valued at $464,000 after acquiring an additional 87 shares in the last quarter. SVB Wealth LLC grew its holdings in shares of T. Rowe Price Group by 0.5% during the first quarter. SVB Wealth LLC now owns 27,188 shares of the asset manager’s stock worth $4,111,000 after buying an additional 124 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in shares of T. Rowe Price Group by 4.3% in the first quarter. Ameritas Investment Partners Inc. now owns 7,363 shares of the asset manager’s stock valued at $1,112,000 after buying an additional 301 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of T. Rowe Price Group by 850.8% during the first quarter. Renaissance Technologies LLC now owns 363,700 shares of the asset manager’s stock valued at $54,988,000 after buying an additional 325,449 shares during the period. Finally, ING Groep NV boosted its position in T. Rowe Price Group by 24.0% during the first quarter. ING Groep NV now owns 36,364 shares of the asset manager’s stock worth $5,498,000 after acquiring an additional 7,030 shares during the last quarter. Hedge funds and other institutional investors own 74.94% of the company’s stock.

Insider Activity

In related news, insider Jessica M. Hiebler sold 959 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $124.57, for a total value of $119,462.63. Following the sale, the insider now directly owns 12,183 shares in the company, valued at approximately $1,517,636.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Andrew Justin Mackenzi Thomson sold 11,891 shares of T. Rowe Price Group stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $126.91, for a total transaction of $1,509,086.81. Following the transaction, the vice president now directly owns 136,410 shares of the company’s stock, valued at $17,311,793.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 959 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $124.57, for a total value of $119,462.63. Following the sale, the insider now owns 12,183 shares of the company’s stock, valued at approximately $1,517,636.31. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. TheStreet cut shares of T. Rowe Price Group from a “b-” rating to a “c” rating in a research report on Wednesday, July 13th. The Goldman Sachs Group reduced their price objective on T. Rowe Price Group from $118.00 to $100.00 and set a “sell” rating on the stock in a research note on Wednesday, June 29th. BMO Capital Markets dropped their price objective on shares of T. Rowe Price Group from $135.00 to $115.00 in a research report on Monday, August 1st. Morgan Stanley reduced their price target on T. Rowe Price Group from $124.00 to $123.00 and set an “equal weight” rating on the stock in a research report on Friday, July 29th. Finally, UBS Group reduced their target price on shares of T. Rowe Price Group from $88.00 to $84.00 and set a “sell” rating on the stock in a research report on Friday, July 29th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $132.30.

T. Rowe Price Group Trading Up 2.2 %

Shares of TROW opened at $124.39 on Monday. T. Rowe Price Group, Inc. has a 52 week low of $104.72 and a 52 week high of $223.36. The firm has a market cap of $28.07 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 2.55 and a beta of 1.29. The stock has a 50 day moving average of $121.77 and a 200-day moving average of $128.22.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last released its earnings results on Thursday, July 28th. The asset manager reported $1.79 earnings per share for the quarter, missing the consensus estimate of $2.64 by ($0.85). T. Rowe Price Group had a net margin of 33.26% and a return on equity of 28.18%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the firm earned $3.31 EPS. The firm’s revenue for the quarter was down 20.4% on a year-over-year basis. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 8.24 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th will be paid a $1.20 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $4.80 annualized dividend and a dividend yield of 3.86%. T. Rowe Price Group’s payout ratio is currently 46.33%.

About T. Rowe Price Group

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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.

See Also

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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