Associated Banc Corp Decreases Stake in T. Rowe Price Group, Inc. $TROW

Associated Banc Corp cut its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 9.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,535 shares of the asset manager’s stock after selling 2,329 shares during the quarter. Associated Banc Corp’s holdings in T. Rowe Price Group were worth $2,175,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in TROW. TD Waterhouse Canada Inc. grew its holdings in T. Rowe Price Group by 66.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after acquiring an additional 100 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of T. Rowe Price Group during the first quarter worth about $27,000. Atlantic Union Bankshares Corp acquired a new position in T. Rowe Price Group during the second quarter worth approximately $35,000. Curio Wealth LLC lifted its stake in T. Rowe Price Group by 20,700.0% in the second quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock valued at $40,000 after buying an additional 414 shares during the last quarter. Finally, Cromwell Holdings LLC lifted its stake in T. Rowe Price Group by 3,483.3% in the second quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager’s stock valued at $41,000 after buying an additional 418 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the transaction, the director owned 47,335 shares of the company’s stock, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Stock Up 0.7%

Shares of NASDAQ TROW opened at $101.13 on Wednesday. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The stock has a market capitalization of $22.07 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 5.61 and a beta of 1.51. The firm has a 50-day moving average price of $103.03 and a 200 day moving average price of $101.78.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the business earned $2.57 earnings per share. T. Rowe Price Group’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be paid a $1.27 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $5.08 annualized dividend and a yield of 5.0%. T. Rowe Price Group’s payout ratio is presently 55.34%.

Analysts Set New Price Targets

A number of research firms have commented on TROW. The Goldman Sachs Group dropped their price objective on shares of T. Rowe Price Group from $98.00 to $93.00 and set a “sell” rating on the stock in a research note on Tuesday. Weiss Ratings reiterated a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Wednesday, October 8th. Citigroup boosted their price target on T. Rowe Price Group from $105.00 to $107.00 in a research report on Monday, November 3rd. Evercore ISI upped their price objective on T. Rowe Price Group from $115.00 to $118.00 and gave the company an “in-line” rating in a research note on Thursday, October 9th. Finally, TD Cowen increased their price objective on T. Rowe Price Group from $108.00 to $112.00 and gave the stock a “hold” rating in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Reduce” and an average price target of $109.00.

T. Rowe Price Group 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.