Blackhawk Capital Partners LLC Sells 5,655 Shares of T. Rowe Price Group, Inc. $TROW

Blackhawk Capital Partners LLC reduced its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 26.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,649 shares of the asset manager’s stock after selling 5,655 shares during the quarter. Blackhawk Capital Partners LLC’s holdings in T. Rowe Price Group were worth $1,606,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. First Trust Advisors LP lifted its position in T. Rowe Price Group by 137.7% in the 2nd quarter. First Trust Advisors LP now owns 3,441,458 shares of the asset manager’s stock valued at $332,101,000 after acquiring an additional 1,993,920 shares in the last quarter. Norges Bank purchased a new position in shares of T. Rowe Price Group in the second quarter worth $82,756,000. ARGA Investment Management LP raised its stake in shares of T. Rowe Price Group by 3,807.3% in the second quarter. ARGA Investment Management LP now owns 477,161 shares of the asset manager’s stock worth $46,046,000 after purchasing an additional 464,949 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of T. Rowe Price Group during the second quarter valued at $37,722,000. Finally, ProShare Advisors LLC boosted its position in shares of T. Rowe Price Group by 21.7% during the second quarter. ProShare Advisors LLC now owns 1,887,935 shares of the asset manager’s stock valued at $182,186,000 after buying an additional 337,112 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TROW shares. Weiss Ratings restated a “hold (c+)” rating on shares of T. Rowe Price Group in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft reduced their price objective on T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating for the company in a research report on Wednesday, December 17th. Bank of America raised their target price on T. Rowe Price Group from $85.00 to $86.00 in a research report on Wednesday, January 14th. The Goldman Sachs Group lowered their price objective on shares of T. Rowe Price Group from $97.00 to $95.00 and set a “sell” rating on the stock in a research note on Wednesday, January 14th. Finally, Zacks Research cut shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Eleven research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, T. Rowe Price Group presently has an average rating of “Reduce” and a consensus target price of $107.31.

T. Rowe Price Group Trading Down 1.4%

Shares of NASDAQ:TROW opened at $105.63 on Friday. The stock has a 50 day moving average of $103.93 and a 200 day moving average of $104.51. The company has a market cap of $23.05 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 2.59 and a beta of 1.52. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $118.32.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.26. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.57 earnings per share. Equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th were given a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Monday, December 15th. T. Rowe Price Group’s payout ratio is presently 55.34%.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Arif Husain sold 4,260 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total transaction of $434,349.60. Following the completion of the sale, the vice president owned 47,102 shares in the company, valued at approximately $4,802,519.92. This trade represents a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by company insiders.

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.