Parkside Financial Bank & Trust Sells 534 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Parkside Financial Bank & Trust reduced its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 45.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 649 shares of the asset manager’s stock after selling 534 shares during the quarter. Parkside Financial Bank & Trust’s holdings in T. Rowe Price Group were worth $70,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Simmons Bank lifted its position in shares of T. Rowe Price Group by 23.0% during the 3rd quarter. Simmons Bank now owns 3,503 shares of the asset manager’s stock worth $367,000 after buying an additional 656 shares during the last quarter. L. Roy Papp & Associates LLP lifted its position in shares of T. Rowe Price Group by 5.8% during the 4th quarter. L. Roy Papp & Associates LLP now owns 158,875 shares of the asset manager’s stock worth $17,109,000 after buying an additional 8,773 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of T. Rowe Price Group by 3.5% in the fourth quarter. Nordea Investment Management AB now owns 317,349 shares of the asset manager’s stock valued at $34,299,000 after buying an additional 10,680 shares during the period. Vest Financial LLC increased its stake in shares of T. Rowe Price Group by 48.8% in the fourth quarter. Vest Financial LLC now owns 280,552 shares of the asset manager’s stock valued at $30,213,000 after buying an additional 92,059 shares during the period. Finally, Cullen Investment Group LTD. acquired a new stake in shares of T. Rowe Price Group in the fourth quarter valued at about $953,000. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $108.83 on Friday. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76. The business has a 50 day simple moving average of $115.00 and a 200 day simple moving average of $107.00. The stock 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 (NASDAQ:TROW) last announced 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. T. Rowe Price Group had a return on equity of 18.41% and a net margin of 27.69%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the firm posted $1.74 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities analysts expect that T. Rowe Price Group, Inc. will post 8.36 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date of this dividend was Thursday, March 14th. 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 currently 63.92%.

Insider Activity

In other news, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 21,073 shares in the company, valued at $2,493,357.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jessica M. Hiebler sold 1,138 shares of T. Rowe Price Group stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the sale, the insider now directly owns 14,113 shares in the company, valued at $1,511,925.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Freeman A. Hrabowski III sold 8,740 shares of T. Rowe Price Group 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 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.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Citigroup increased their price target on 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. UBS Group increased their price target on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Keefe, Bruyette & Woods raised T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their price target for the company from $106.00 to $120.00 in a research note on Thursday, April 11th. Morgan Stanley increased their price target on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. Finally, StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Four investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $112.67.

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.