T. Rowe Price Group, Inc. $TROW is PARK CIRCLE Co’s 6th Largest Position

PARK CIRCLE Co lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 19.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 56,041 shares of the asset manager’s stock after selling 13,304 shares during the quarter. T. Rowe Price Group comprises 4.8% of PARK CIRCLE Co’s holdings, making the stock its 6th largest position. PARK CIRCLE Co’s holdings in T. Rowe Price Group were worth $5,752,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ raised its stake in shares of T. Rowe Price Group by 9.1% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 46,165 shares of the asset manager’s stock valued at $4,737,000 after acquiring an additional 3,859 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in T. Rowe Price Group by 5.8% in the third quarter. State of New Jersey Common Pension Fund D now owns 69,640 shares of the asset manager’s stock worth $7,148,000 after purchasing an additional 3,821 shares in the last quarter. HighTower Advisors LLC increased its holdings in T. Rowe Price Group by 13.0% during the 3rd quarter. HighTower Advisors LLC now owns 220,153 shares of the asset manager’s stock worth $22,596,000 after purchasing an additional 25,253 shares during the period. GenTrust LLC bought a new stake in T. Rowe Price Group during the 3rd quarter valued at $206,000. Finally, Taylor Hoffman Capital Management LLC lifted its holdings in shares of T. Rowe Price Group by 3.6% in the 3rd quarter. Taylor Hoffman Capital Management LLC now owns 42,785 shares of the asset manager’s stock worth $4,391,000 after buying an additional 1,473 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on TROW shares. TD Cowen cut their price target on T. Rowe Price Group from $109.00 to $97.00 and set a “hold” rating on the stock in a research note on Thursday, February 5th. BMO Capital Markets dropped their target price on shares of T. Rowe Price Group from $110.00 to $104.00 and set a “market perform” rating on the stock in a report on Thursday, February 12th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating for the company in a report on Thursday, February 5th. Bank of America increased their price objective on shares of T. Rowe Price Group from $85.00 to $86.00 in a research note on Wednesday, January 14th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of T. Rowe Price Group in a research note on Monday, December 29th. Twelve research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $102.50.

Insider Buying and Selling

In other news, VP Arif Husain sold 4,260 shares of the business’s 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 sale, the vice president owned 47,102 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.

T. Rowe Price Group Stock Up 0.6%

NASDAQ TROW opened at $93.76 on Tuesday. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $118.22. The company has a 50 day moving average price of $103.19 and a 200 day moving average price of $103.97. The firm has a market cap of $20.46 billion, a PE ratio of 10.14, a price-to-earnings-growth ratio of 4.84 and a beta of 1.53.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.47 by ($0.03). The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.36%. T. Rowe Price Group’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business earned $2.12 earnings per share. On average, equities research analysts anticipate 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 firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $5.20 annualized dividend and a yield of 5.5%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.27. T. Rowe Price Group’s dividend payout ratio is currently 54.92%.

T. Rowe Price Group Company Profile

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.