Northeast Investment Management Decreases Holdings in T. Rowe Price Group, Inc. $TROW

Northeast Investment Management reduced its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 21.2% in the 1st quarter, HoldingsChannel reports. The fund owned 19,123 shares of the asset manager’s stock after selling 5,156 shares during the quarter. Northeast Investment Management’s holdings in T. Rowe Price Group were worth $1,724,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Woodline Partners LP lifted 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 worth $1,728,000 after purchasing an additional 5,467 shares during the last quarter. Focus Partners Wealth raised its holdings 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 worth $1,199,000 after purchasing an additional 1,250 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings 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 worth $149,000 after purchasing an additional 478 shares in the last quarter. Jump Financial LLC acquired a new stake in T. Rowe Price Group during the second quarter worth approximately $931,000. Finally, Daiwa Securities Group Inc. lifted its position in shares of T. Rowe Price Group by 5.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager’s stock worth $3,208,000 after buying an additional 1,703 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $106.34 on Friday. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $118.22. The stock has a market cap of $22.79 billion, a P/E ratio of 11.40, a P/E/G ratio of 5.41 and a beta of 1.50. The firm has a fifty day moving average price of $103.66 and a 200 day moving average price of $99.88.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. 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 previous year, the business posted $2.23 earnings per share. T. Rowe Price Group’s quarterly revenue was up 5.3% on a year-over-year basis. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.58 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $5.20 annualized dividend and a yield of 4.9%. T. Rowe Price Group’s dividend payout ratio is currently 55.73%.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president directly owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on TROW shares. Jefferies Financial Group dropped their target price on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research report on Wednesday, April 8th. Keefe, Bruyette & Woods upped their price objective on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the company a “market perform” rating in a research note on Friday, May 1st. BMO Capital Markets lifted their target price on T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a research report on Monday, May 4th. Barclays boosted their target price on T. Rowe Price Group from $87.00 to $89.00 and gave the company an “underweight” rating in a report on Friday, May 1st. Finally, Morgan Stanley set a $105.00 price target on T. Rowe Price Group in a research note on Monday, April 27th. Eleven investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $100.08.

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.