Northwestern Mutual Wealth Management Co. Sells 5,320 Shares of T. Rowe Price Group, Inc. $TROW

Northwestern Mutual Wealth Management Co. reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 14.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,768 shares of the asset manager’s stock after selling 5,320 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in T. Rowe Price Group were worth $3,355,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Northern Trust Corp raised its stake in T. Rowe Price Group by 6.4% during the 3rd quarter. Northern Trust Corp now owns 2,529,116 shares of the asset manager’s stock worth $259,588,000 after acquiring an additional 152,451 shares during the period. Dimensional Fund Advisors LP raised its position in shares of T. Rowe Price Group by 3.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,090,249 shares of the asset manager’s stock valued at $214,557,000 after purchasing an additional 64,791 shares during the period. Caisse de depot et placement du Quebec raised its position in shares of T. Rowe Price Group by 81.0% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock valued at $134,142,000 after purchasing an additional 584,949 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of T. Rowe Price Group by 5.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 873,092 shares of the asset manager’s stock valued at $89,614,000 after buying an additional 45,845 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of T. Rowe Price Group by 4.6% during the 3rd quarter. Bank of Montreal Can now owns 715,232 shares of the asset manager’s stock valued at $73,411,000 after buying an additional 31,554 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Trading Up 2.8%

Shares of T. Rowe Price Group stock opened at $106.96 on Friday. The firm has a market cap of $22.92 billion, a PE ratio of 11.46, a PEG ratio of 5.32 and a beta of 1.50. The stock has a 50 day moving average of $98.73 and a 200 day moving average of $99.26. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.15. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.23 EPS. As a group, equities research 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 disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be given a dividend of $1.30 per share. The ex-dividend date 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 (DPR) is 55.73%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the transaction, the vice president directly owned 83,883 shares of the company’s stock, valued at $8,603,040.48. This trade represents a 3.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TROW. Weiss Ratings reiterated a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Friday, May 8th. Evercore cut their target price on T. Rowe Price Group from $106.00 to $104.00 in a research report on Monday, May 11th. The Goldman Sachs Group lifted their target price on T. Rowe Price Group from $85.00 to $90.00 in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft lowered their price target on T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, February 5th. Finally, Barclays upped their price target on T. Rowe Price Group from $87.00 to $89.00 and gave the stock an “underweight” rating in a research note on Friday, May 1st. Eleven investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $99.54.

T. Rowe Price Group 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.