Parkside Financial Bank & Trust Reduces Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Parkside Financial Bank & Trust lowered its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 45.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 649 shares of the asset manager’s stock after selling 534 shares during the period. Parkside Financial Bank & Trust’s holdings in T. Rowe Price Group were worth $70,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Clear Harbor Asset Management LLC grew its position in T. Rowe Price Group by 3.2% in the fourth quarter. Clear Harbor Asset Management LLC now owns 3,240 shares of the asset manager’s stock worth $349,000 after acquiring an additional 100 shares in the last quarter. Caprock Group LLC grew its position in T. Rowe Price Group by 4.7% in the fourth quarter. Caprock Group LLC now owns 2,251 shares of the asset manager’s stock worth $242,000 after acquiring an additional 101 shares in the last quarter. Roundview Capital LLC lifted its stake in T. Rowe Price Group by 0.5% in the third quarter. Roundview Capital LLC now owns 22,279 shares of the asset manager’s stock worth $2,336,000 after purchasing an additional 105 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its stake in T. Rowe Price Group by 83.5% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after purchasing an additional 106 shares during the last quarter. Finally, Simplicity Solutions LLC lifted its stake in T. Rowe Price Group by 3.4% in the third quarter. Simplicity Solutions LLC now owns 3,391 shares of the asset manager’s stock worth $356,000 after purchasing an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TROW. Citigroup lifted their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Keefe, Bruyette & Woods raised shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $106.00 to $120.00 in a report on Thursday, April 11th. TD Cowen raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and lifted their price objective for the company from $92.00 to $114.00 in a report on Monday, April 8th. UBS Group lifted their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a report on Friday, April 12th. Finally, StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Four investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $112.67.

T. Rowe Price Group Trading Down 2.0 %

NASDAQ TROW opened at $108.83 on Friday. The firm has a market capitalization of $24.34 billion, a P/E ratio of 14.02, a P/E/G ratio of 2.08 and a beta of 1.40. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $132.76. The firm’s fifty day simple moving average is $115.00 and its two-hundred day simple moving average is $107.00.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.12. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.74 earnings per share. As a group, sell-side analysts predict that T. Rowe Price Group, Inc. will post 8.36 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $1.24 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.22. This represents a $4.96 dividend on an annualized basis and a yield of 4.56%. T. Rowe Price Group’s payout ratio is currently 63.92%.

Insider Activity at T. Rowe Price Group

In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the sale, the director now directly owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Jessica M. Hiebler sold 1,138 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $107.13, for a total value of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the sale, the director now owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.