Kinloch Capital LLC Lowers Position in T. Rowe Price Group, Inc. $TROW

Kinloch Capital LLC reduced its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 16.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,095 shares of the asset manager’s stock after selling 5,634 shares during the period. Kinloch Capital LLC’s holdings in T. Rowe Price Group were worth $2,979,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Woodline Partners LP boosted its holdings in T. Rowe Price Group by 41.0% in the 1st quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock valued at $1,728,000 after purchasing an additional 5,467 shares in the last quarter. Focus Partners Wealth lifted its holdings in shares of T. Rowe Price Group by 10.6% in the 1st quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock valued at $1,199,000 after buying an additional 1,250 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of T. Rowe Price Group by 44.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager’s stock valued at $149,000 after buying an additional 478 shares during the period. Jump Financial LLC purchased a new stake in shares of T. Rowe Price Group in the second quarter valued at approximately $931,000. Finally, Daiwa Securities Group Inc. boosted its stake in shares of T. Rowe Price Group by 5.4% in the second quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager’s stock valued at $3,208,000 after buying an additional 1,703 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $107.65 on Friday. The business has a 50 day moving average price of $102.31 and a 200 day moving average price of $99.80. The company has a market capitalization of $23.07 billion, a P/E ratio of 11.54, a PEG ratio of 5.53 and a beta of 1.50. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.15. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.T. Rowe Price Group’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.23 earnings per share. On average, research analysts expect that T. Rowe Price Group, Inc. will post 9.63 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group’s payout ratio is 55.73%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TROW shares. Evercore increased their price objective on T. Rowe Price Group from $106.00 to $111.00 in a research report on Monday, June 8th. JPMorgan Chase & Co. decreased their target price on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating on the stock in a research report on Friday, April 24th. Zacks Research raised shares of T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. Keefe, Bruyette & Woods increased their price target on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the company a “market perform” rating in a report on Friday, May 1st. Finally, TD Cowen raised their price objective on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the company a “hold” rating in a research note on Friday, May 1st. Eleven investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, T. Rowe Price Group presently has a consensus rating of “Reduce” and an average price target of $100.08.

Insider Activity

In related news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the sale, the vice president directly owned 83,883 shares in the company, valued at $8,603,040.48. The trade was a 3.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is owned by company insiders.

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.