Legal & General Group Plc Decreases Stock Position in T. Rowe Price Group, Inc. $TROW

Legal & General Group Plc lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 15.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,873,009 shares of the asset manager’s stock after selling 332,687 shares during the quarter. Legal & General Group Plc’s holdings in T. Rowe Price Group were worth $191,759,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. TD Private Client Wealth LLC boosted its holdings in T. Rowe Price Group by 91.8% in the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after acquiring an additional 123 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in T. Rowe Price Group by 540.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock worth $29,000 after acquiring an additional 238 shares during the period. Root Financial Partners LLC purchased a new position in T. Rowe Price Group in the 3rd quarter worth approximately $30,000. Canton Hathaway LLC purchased a new position in T. Rowe Price Group in the 4th quarter worth approximately $31,000. Finally, Sound Income Strategies LLC boosted its holdings in T. Rowe Price Group by 170.3% in the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after acquiring an additional 189 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In related news, VP Stephon A. Jackson sold 3,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft decreased their price target on 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. Jefferies Financial Group reduced their target price on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a research note on Wednesday, April 8th. BMO Capital Markets increased their target price on T. Rowe Price Group from $98.00 to $110.00 and gave the company a “market perform” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. reduced their target price on T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a research note on Friday, April 24th. Finally, Barclays increased their target price on T. Rowe Price Group from $87.00 to $89.00 and gave the company an “underweight” rating in a research note on Friday, May 1st. Eleven 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, the company presently has a consensus rating of “Reduce” and a consensus price target of $99.54.

T. Rowe Price Group Price Performance

Shares of TROW opened at $104.50 on Thursday. The business’s fifty day moving average price is $96.71 and its 200 day moving average price is $99.20. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $118.22. The stock has a market capitalization of $22.39 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 5.31 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same period last year, the business posted $2.23 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be paid a dividend of $1.30 per share. The ex-dividend date is Monday, June 15th. This represents a $5.20 annualized dividend and a yield of 5.0%. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.73%.

About T. Rowe Price Group

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.