Allspring Global Investments Holdings LLC Sells 274 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Allspring Global Investments Holdings LLC lessened its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,519 shares of the asset manager’s stock after selling 274 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in T. Rowe Price Group were worth $1,063,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in TROW. Proficio Capital Partners LLC bought a new stake in shares of T. Rowe Price Group in the fourth quarter worth $5,589,000. Raymond James Financial Inc. purchased a new stake in shares of T. Rowe Price Group in the fourth quarter worth about $32,332,000. Callan Family Office LLC purchased a new stake in T. Rowe Price Group during the fourth quarter valued at approximately $252,000. Bank Julius Baer & Co. Ltd Zurich raised its position in T. Rowe Price Group by 7.4% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,975 shares of the asset manager’s stock valued at $496,000 after purchasing an additional 275 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in T. Rowe Price Group by 7.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 29,186 shares of the asset manager’s stock valued at $3,301,000 after purchasing an additional 2,064 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insiders Place Their Bets

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total transaction of $190,860.00. Following the sale, the vice president owned 44,789 shares of the company’s stock, valued at approximately $4,274,214.27. This represents a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 968 shares of the company’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the sale, the insider directly owned 13,611 shares in the company, valued at $1,319,994.78. This represents a 6.64% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Stock Up 0.8%

Shares of NASDAQ TROW opened at $99.74 on Wednesday. The firm has a market cap of $21.97 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 3.17 and a beta of 1.49. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81. The business’s 50 day moving average is $94.69 and its two-hundred day moving average is $99.51.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.10. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.38 earnings per share. Analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date was Friday, June 13th. T. Rowe Price Group’s dividend payout ratio is currently 57.60%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on TROW shares. The Goldman Sachs Group dropped their price objective on T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a research note on Monday, April 14th. Bank of America dropped their price objective on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a research note on Thursday, April 3rd. Evercore ISI dropped their price objective on T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating on the stock in a research note on Friday, April 11th. Cowen reissued a “hold” rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. Finally, Wells Fargo & Company dropped their price objective on T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Four analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $94.91.

T. Rowe Price Group Company Profile

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.