OLD National Bancorp IN Cuts Stock Holdings in T. Rowe Price Group, Inc. $TROW

OLD National Bancorp IN trimmed its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 69,113 shares of the asset manager’s stock after selling 5,927 shares during the period. OLD National Bancorp IN’s holdings in T. Rowe Price Group were worth $7,076,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TROW. Woodline Partners LP grew its stake in T. Rowe Price Group by 41.0% during the first quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock valued at $1,728,000 after acquiring an additional 5,467 shares in the last quarter. Focus Partners Wealth grew its stake in T. Rowe Price Group by 10.6% during the first quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock valued at $1,199,000 after acquiring an additional 1,250 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in T. Rowe Price Group by 44.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager’s stock valued at $149,000 after acquiring an additional 478 shares in the last quarter. Jump Financial LLC purchased a new position in T. Rowe Price Group during the second quarter valued at $931,000. Finally, Daiwa Securities Group Inc. grew its stake in T. Rowe Price Group by 5.4% during the second quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager’s stock valued at $3,208,000 after acquiring an additional 1,703 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TROW. TD Cowen cut their target price on shares of T. Rowe Price Group from $97.00 to $93.00 and set a “hold” rating for the company in a research note on Thursday, April 9th. Bank of America increased their price objective on shares of T. Rowe Price Group from $85.00 to $86.00 in a research report on Wednesday, January 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of T. Rowe Price Group in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday, February 5th. Finally, BMO Capital Markets lowered their price objective on shares of T. Rowe Price Group from $104.00 to $98.00 and set a “market perform” rating for the company in a research report on Friday, April 10th. Ten equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Reduce” and a consensus price target of $96.85.

T. Rowe Price Group Stock Down 0.7%

TROW stock opened at $99.49 on Friday. T. Rowe Price Group, Inc. has a 52 week low of $85.22 and a 52 week high of $118.22. The company has a fifty day simple moving average of $92.19 and a two-hundred day simple moving average of $99.42. The firm has a market capitalization of $21.65 billion, a P/E ratio of 10.76, a price-to-earnings-growth ratio of 4.34 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last released 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). The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.29%. T. Rowe Price Group’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.12 EPS. As a group, analysts anticipate that T. Rowe Price Group, Inc. will post 9.69 EPS for the current year.

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Monday, March 16th were issued a $1.30 dividend. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.27. The ex-dividend date was Monday, March 16th. This represents a $5.20 annualized dividend and a dividend yield of 5.2%. T. Rowe Price Group’s dividend payout ratio (DPR) is 56.22%.

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.