North Star Asset Management Inc. Decreases Position in T. Rowe Price Group, Inc. $TROW

North Star Asset Management Inc. lowered its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 27.1% in the 4th quarter, HoldingsChannel reports. The firm owned 114,811 shares of the asset manager’s stock after selling 42,698 shares during the quarter. North Star Asset Management Inc.’s holdings in T. Rowe Price Group were worth $11,754,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of TROW. Jefferies Financial Group Inc. raised its holdings in T. Rowe Price Group by 199.7% during the 4th quarter. Jefferies Financial Group Inc. now owns 87,344 shares of the asset manager’s stock valued at $8,942,000 after acquiring an additional 58,196 shares during the period. Guinness Asset Management LTD raised its holdings in T. Rowe Price Group by 28.0% during the 4th quarter. Guinness Asset Management LTD now owns 5,227 shares of the asset manager’s stock valued at $546,000 after acquiring an additional 1,145 shares during the period. EverSource Wealth Advisors LLC raised its holdings in T. Rowe Price Group by 15.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,674 shares of the asset manager’s stock valued at $171,000 after acquiring an additional 219 shares during the period. Legato Capital Management LLC bought a new stake in T. Rowe Price Group during the 4th quarter valued at $702,000. Finally, Evoke Wealth LLC grew its position in shares of T. Rowe Price Group by 16.7% during the 4th quarter. Evoke Wealth LLC now owns 3,543 shares of the asset manager’s stock valued at $363,000 after purchasing an additional 506 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Activity

In other 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 transaction of $307,680.00. Following the completion of the sale, the vice president directly owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. The trade was a 3.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $103.39 on Friday. T. Rowe Price Group, Inc. has a 52-week low of $85.22 and a 52-week high of $118.22. The company has a market capitalization of $22.15 billion, a P/E ratio of 11.08, a P/E/G ratio of 4.51 and a beta of 1.51. The company has a fifty day moving average of $95.75 and a 200-day moving average of $99.18.

T. Rowe Price Group (NASDAQ:TROW) last posted 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. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the previous year, the firm posted $2.23 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 9.63 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group’s payout ratio is currently 55.73%.

Wall Street Analyst Weigh In

TROW has been the subject of a number of recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Friday, May 8th. TD Cowen boosted their price target on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the company a “hold” rating in a research report on Friday, May 1st. The Goldman Sachs Group boosted their price target on shares of T. Rowe Price Group from $85.00 to $90.00 in a research report on Friday, May 1st. JPMorgan Chase & Co. reduced their price target on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a research report on Friday, April 24th. Finally, Jefferies Financial Group reduced their price target on shares of 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. Eleven research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, T. Rowe Price Group currently has an average rating of “Reduce” and a consensus price target of $99.54.

About T. Rowe Price Group

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.