Shell Asset Management Co. Cuts Stock Position in T. Rowe Price Group, Inc. $TROW

Shell Asset Management Co. trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 49.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,437 shares of the asset manager’s stock after selling 11,264 shares during the quarter. Shell Asset Management Co.’s holdings in T. Rowe Price Group were worth $1,174,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Woodline Partners LP grew its holdings in shares of T. Rowe Price Group by 41.0% in the first 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 boosted its position in 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. Sequoia Financial Advisors LLC grew its stake in shares of T. Rowe Price Group by 7.1% in the second quarter. Sequoia Financial Advisors LLC now owns 6,140 shares of the asset manager’s stock worth $593,000 after acquiring an additional 409 shares in the last quarter. RFG Advisory LLC increased its position in shares of T. Rowe Price Group by 27.4% during the second quarter. RFG Advisory LLC now owns 3,666 shares of the asset manager’s stock worth $354,000 after acquiring an additional 789 shares during the period. Finally, TD Asset Management Inc raised its stake in shares of T. Rowe Price Group by 0.3% in the second quarter. TD Asset Management Inc now owns 86,093 shares of the asset manager’s stock valued at $8,308,000 after acquiring an additional 287 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total transaction of $434,349.60. Following 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 this hyperlink. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on the company. Evercore lowered their target price on T. Rowe Price Group from $116.00 to $106.00 and set an “in-line” rating for the company in a research note on Thursday, February 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of T. Rowe Price Group in a research report on Monday, December 29th. JPMorgan Chase & Co. cut their target price on shares of T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating on the stock in a research note on Thursday, February 5th. Citigroup lifted their price target on shares of T. Rowe Price Group from $105.00 to $107.00 in a research note on Monday, November 3rd. Finally, Barclays set a $94.00 price objective on shares of T. Rowe Price Group in a research report on Thursday, February 5th. Twelve equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $102.50.

T. Rowe Price Group Trading Up 0.6%

TROW stock opened at $93.76 on Monday. The stock has a market cap of $20.46 billion, a P/E ratio of 10.14, a PEG ratio of 4.84 and a beta of 1.53. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $118.22. The company’s 50 day moving average is $103.40 and its two-hundred day moving average is $104.03.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Wednesday, February 4th. The asset manager reported $2.44 EPS for the quarter, missing the consensus estimate of $2.47 by ($0.03). T. Rowe Price Group had a return on equity of 20.36% and a net margin of 28.53%.The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the business earned $2.12 earnings per share. T. Rowe Price Group’s revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Monday, March 16th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.27. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.92%.

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.