Hsbc Holdings PLC Sells 19,993 Shares of T. Rowe Price Group, Inc. $TROW

Hsbc Holdings PLC lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,034,158 shares of the asset manager’s stock after selling 19,993 shares during the period. Hsbc Holdings PLC’s holdings in T. Rowe Price Group were worth $105,986,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. AG Campbell Advisory LLC bought a new position in T. Rowe Price Group in the 4th quarter valued at $345,000. Tobam raised its position in shares of T. Rowe Price Group by 21,661.1% during the fourth quarter. Tobam now owns 7,834 shares of the asset manager’s stock worth $802,000 after acquiring an additional 7,798 shares during the last quarter. Anchor Investment Management LLC raised its position in shares of T. Rowe Price Group by 2.2% during the fourth quarter. Anchor Investment Management LLC now owns 28,974 shares of the asset manager’s stock worth $2,966,000 after acquiring an additional 612 shares during the last quarter. KW Wealth Management LLC lifted its stake in shares of T. Rowe Price Group by 62.9% during the fourth quarter. KW Wealth Management LLC now owns 3,337 shares of the asset manager’s stock valued at $342,000 after acquiring an additional 1,289 shares during the period. Finally, MidFirst Bank acquired a new position in shares of T. Rowe Price Group during the fourth quarter valued at $102,000. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $107.65 on Monday. The company’s fifty day moving average is $102.63 and its 200-day moving average is $99.84. The stock has a market cap of $23.07 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 5.51 and a beta of 1.50. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve 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 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.15. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.23 EPS. On average, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.63 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group’s payout ratio is presently 55.73%.

Insider Activity

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the sale, the vice president directly owned 83,883 shares in the company, valued at $8,603,040.48. This represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on TROW. Jefferies Financial Group lowered their price objective on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a research report on Wednesday, April 8th. The Goldman Sachs Group upped their target price on shares of T. Rowe Price Group from $85.00 to $90.00 in a research report on Friday, May 1st. Zacks Research raised shares of T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. BMO Capital Markets lifted their price target on shares of 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. Finally, JPMorgan Chase & Co. reduced their price objective on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating on the stock in a research note on Friday, April 24th. Eleven research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $100.08.

T. Rowe Price Group Company 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.