Johnson Financial Group Inc. Sells 4,520 Shares of T. Rowe Price Group, Inc. $TROW

Johnson Financial Group Inc. trimmed its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 12.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 30,390 shares of the asset manager’s stock after selling 4,520 shares during the period. Johnson Financial Group Inc.’s holdings in T. Rowe Price Group were worth $2,739,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. TD Private Client Wealth LLC raised its stake in shares of T. Rowe Price Group by 91.8% during the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 123 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in T. Rowe Price Group by 540.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after purchasing an additional 238 shares in the last quarter. Canton Hathaway LLC purchased a new position in T. Rowe Price Group during the 4th quarter worth $31,000. Sound Income Strategies LLC raised its position in T. Rowe Price Group by 170.3% during the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 189 shares in the last quarter. Finally, DV Equities LLC bought a new stake in T. Rowe Price Group during the 4th quarter valued at $32,000. 73.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods increased their price target on T. Rowe Price Group from $107.00 to $120.00 and gave the stock a “market perform” rating in a research report on Friday, July 10th. BMO Capital Markets lifted their price objective on T. Rowe Price Group from $98.00 to $110.00 and gave the company a “market perform” rating in a report on Monday, May 4th. The Goldman Sachs Group upped their price objective on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a research note on Tuesday, June 30th. Morgan Stanley increased their target price on shares of T. Rowe Price Group from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Friday, June 26th. Finally, TD Cowen cut their target price on shares of T. Rowe Price Group from $108.00 to $107.00 and set a “hold” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, T. Rowe Price Group presently has an average rating of “Reduce” and a consensus price target of $104.50.

Insider Activity at T. Rowe Price Group

In related news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the sale, the vice president directly owned 83,883 shares in the company, valued at $8,603,040.48. This trade represents a 3.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by insiders.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $116.49 on Tuesday. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $121.17. The business has a fifty day moving average price of $109.08 and a 200-day moving average price of $101.39. The stock has a market capitalization of $24.96 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 4.23 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.15. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the prior year, the company posted $2.23 EPS. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 10.07 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were issued a dividend of $1.30 per share. The ex-dividend date was Monday, June 15th. This represents a $5.20 annualized dividend and a dividend yield of 4.5%. T. Rowe Price Group’s dividend payout ratio is 55.73%.

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.