Barclays PLC Reduces Stock Position in T. Rowe Price Group, Inc. $TROW

Barclays PLC lowered its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 29.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 628,833 shares of the asset manager’s stock after selling 265,532 shares during the period. Barclays PLC owned 0.29% of T. Rowe Price Group worth $64,543,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in TROW. TD Waterhouse Canada Inc. raised its holdings in shares of 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 during the period. Root Financial Partners LLC purchased a new stake in shares of T. Rowe Price Group in the third quarter valued at about $30,000. Salomon & Ludwin LLC increased its position in T. Rowe Price Group by 84.3% during the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock worth $33,000 after purchasing an additional 145 shares during the last quarter. Vermillion & White Wealth Management Group LLC increased its position in T. Rowe Price Group by 120.0% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock worth $31,000 after purchasing an additional 174 shares during the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in T. Rowe Price Group during the second quarter worth about $35,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at T. Rowe Price Group

In other news, VP Arif Husain sold 4,260 shares of T. Rowe Price Group stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total value of $434,349.60. Following the completion of the sale, the vice president directly owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. The trade was a 8.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

TROW has been the topic of several recent analyst reports. Bank of America boosted their target price on shares of T. Rowe Price Group from $85.00 to $86.00 in a report on Wednesday, January 14th. Morgan Stanley reduced their price target on shares of T. Rowe Price Group from $123.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 10th. Barclays set a $94.00 price objective on T. Rowe Price Group in a report on Thursday, February 5th. BMO Capital Markets lowered their price objective on T. Rowe Price Group from $110.00 to $104.00 and set a “market perform” rating for the company in a research report on Thursday, February 12th. Finally, JPMorgan Chase & Co. cut their target price on T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating for the company in a research note on Thursday, February 5th. Twelve investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $101.69.

T. Rowe Price Group Price Performance

Shares of TROW opened at $90.40 on Monday. The firm has a 50-day simple moving average of $100.33 and a two-hundred day simple moving average of $102.77. The stock has a market cap of $19.71 billion, a PE ratio of 9.77, a P/E/G ratio of 4.67 and a beta of 1.54. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Wednesday, February 4th. The asset manager reported $2.44 EPS for the quarter, missing the consensus estimate of $2.47 by ($0.03). T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the company posted $2.12 earnings per share. The business’s revenue was up 6.0% compared to the same quarter last year. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be given a dividend of $1.30 per share. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.27. This represents a $5.20 annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Monday, March 16th. T. Rowe Price Group’s dividend payout ratio (DPR) is 56.22%.

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.