Brown Advisory Inc. Sells 33,318 Shares of T. Rowe Price Group, Inc. $TROW

by · The Cerbat Gem

Brown Advisory Inc. lessened its position in T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) by 2.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,496,375 shares of the asset manager’s stock after selling 33,318 shares during the period. Brown Advisory Inc.’s holdings in T. Rowe Price Group were worth $153,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. raised its holdings in T. Rowe Price Group by 17.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 79,003 shares of the asset manager’s stock worth $8,088,000 after acquiring an additional 11,691 shares during the period. Assenagon Asset Management S.A. raised its holdings in T. Rowe Price Group by 43.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 312,768 shares of the asset manager’s stock worth $32,021,000 after acquiring an additional 95,351 shares during the period. LBP AM SA raised its holdings in T. Rowe Price Group by 23.9% in the 4th quarter. LBP AM SA now owns 156,879 shares of the asset manager’s stock worth $16,061,000 after acquiring an additional 30,226 shares during the period. SVB Wealth LLC grew its position in T. Rowe Price Group by 77.5% in the 4th quarter. SVB Wealth LLC now owns 37,000 shares of the asset manager’s stock worth $3,788,000 after purchasing an additional 16,155 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in T. Rowe Price Group by 1,307.4% in the 4th quarter. Nordea Investment Management AB now owns 325,029 shares of the asset manager’s stock worth $33,377,000 after purchasing an additional 301,934 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $109.64 on Friday. The firm’s 50-day simple moving average is $100.82 and its 200-day simple moving average is $99.62. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $118.22. The firm has a market cap of $23.49 billion, a P/E ratio of 11.75, a price-to-earnings-growth ratio of 5.61 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last issued its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, beating the consensus estimate 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 business 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 earned $2.23 EPS. The firm’s revenue was up 5.3% on a year-over-year basis. On average, equities analysts forecast 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 firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Monday, June 15th. T. Rowe Price Group’s payout ratio is 55.73%.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the sale, the vice president directly owned 83,883 shares in the company, valued at approximately $8,603,040.48. The trade was a 3.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TROW shares. Weiss Ratings restated a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Friday, May 8th. TD Cowen raised their price target on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a research report on Friday, May 1st. Jefferies Financial Group decreased their price target 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. Barclays raised their price target on shares of T. Rowe Price Group from $87.00 to $89.00 and gave the stock an “underweight” rating in a research report on Friday, May 1st. Finally, Zacks Research upgraded shares of T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 13th. Eleven investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, T. Rowe Price Group presently has an average rating of “Reduce” and a consensus price target of $100.08.

Read Our Latest Stock Report on TROW

T. Rowe Price Group Company Profile

(Free Report)

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.

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