T. Rowe Price Group, Inc. $TROW Shares Sold by North Star Asset Management Inc.

North Star Asset Management Inc. decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 157,509 shares of the asset manager’s stock after selling 9,132 shares during the period. North Star Asset Management Inc.’s holdings in T. Rowe Price Group were worth $16,167,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. TD Waterhouse Canada Inc. boosted its stake in shares of T. Rowe Price Group by 66.7% in the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after buying an additional 100 shares in the last quarter. Root Financial Partners LLC acquired a new stake in T. Rowe Price Group in the third quarter valued at $30,000. Vermillion & White Wealth Management Group LLC boosted its position in shares of T. Rowe Price Group by 120.0% during the 2nd 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 in the last quarter. Salomon & Ludwin LLC grew its stake in shares of T. Rowe Price Group by 84.3% during the 3rd 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 period. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of T. Rowe Price Group in the 2nd quarter valued at about $35,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Arif Husain sold 4,260 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total value of $434,349.60. Following the completion of the transaction, the vice president owned 47,102 shares of the company’s stock, valued at $4,802,519.92. The trade was a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TROW has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their price target on shares of T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating for the company in a research report on Thursday, February 5th. Argus raised T. Rowe Price Group to a “hold” rating in a report on Thursday, February 5th. Keefe, Bruyette & Woods lowered their target price on T. Rowe Price Group from $115.00 to $110.00 and set a “market perform” rating on the stock in a report on Thursday, February 5th. Weiss Ratings restated a “hold (c+)” rating on shares of T. Rowe Price Group in a research report on Monday, December 29th. Finally, Evercore decreased their price objective on shares of T. Rowe Price Group from $116.00 to $106.00 and set an “in-line” rating on the stock in a research report on Thursday, February 5th. Twelve research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $102.23.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $94.80 on Wednesday. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $118.22. The company has a market capitalization of $20.67 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 4.80 and a beta of 1.53. The stock has a fifty day moving average of $101.99 and a two-hundred day moving average of $103.53.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Wednesday, February 4th. The asset manager reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.03). The company had revenue of $1.93 billion for 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 20.29%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.12 EPS. On average, analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS 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 issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.5%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.27. The ex-dividend date is Monday, March 16th. T. Rowe Price Group’s payout ratio is presently 54.92%.

T. Rowe Price Group 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.