T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock Holdings Cut by Touchstone Capital Inc.

Touchstone Capital Inc. reduced its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,579 shares of the asset manager’s stock after selling 663 shares during the period. T. Rowe Price Group makes up approximately 5.1% of Touchstone Capital Inc.’s portfolio, making the stock its 9th biggest position. Touchstone Capital Inc.’s holdings in T. Rowe Price Group were worth $5,339,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Union Savings Bank purchased a new stake in T. Rowe Price Group during the second quarter worth about $25,000. PCA Investment Advisory Services Inc. acquired a new position in shares of T. Rowe Price Group during the second quarter worth about $26,000. Creative Financial Designs Inc. ADV grew its position in shares of T. Rowe Price Group by 83.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after buying an additional 106 shares in the last quarter. OFI Invest Asset Management acquired a new position in shares of T. Rowe Price Group during the third quarter worth about $25,000. Finally, Intrepid Capital Management Inc. acquired a new position in shares of T. Rowe Price Group during the second quarter worth about $34,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. TD Cowen assumed coverage on T. Rowe Price Group in a research report on Thursday, January 4th. They set an “underperform” rating and a $88.00 price objective for the company. Wells Fargo & Company upped their price target on T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, February 9th. UBS Group upped their price target on T. Rowe Price Group from $86.00 to $102.00 and gave the company a “sell” rating in a report on Wednesday, January 10th. Morgan Stanley increased their price objective on T. Rowe Price Group from $101.00 to $106.00 and gave the company an “equal weight” rating in a report on Friday, January 19th. Finally, JPMorgan Chase & Co. increased their price objective on T. Rowe Price Group from $90.00 to $94.00 and gave the company an “underweight” rating in a report on Friday, February 9th. Six research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group has an average rating of “Reduce” and an average target price of $97.30.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $121.92 on Friday. The firm has a market capitalization of $27.27 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 2.41 and a beta of 1.39. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $132.76. The stock’s fifty day moving average is $112.42 and its two-hundred day moving average is $105.66.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, February 8th. The asset manager reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.12. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.74 earnings per share. As a group, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 7.75 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $1.24 per share. The ex-dividend date was Thursday, March 14th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.07%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.22. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 63.92%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total value 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total value of $121,913.94. Following the sale, the insider now owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total value of $1,034,116.80. Following the sale, the director now directly owns 21,073 shares in the company, valued at $2,493,357.36. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group 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.