Lincoln National Corp Decreases Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Lincoln National Corp cut its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,916 shares of the asset manager’s stock after selling 219 shares during the period. Lincoln National Corp’s holdings in T. Rowe Price Group were worth $960,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TROW. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in T. Rowe Price Group by 19.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,659 shares of the asset manager’s stock valued at $7,305,000 after acquiring an additional 11,354 shares during the last quarter. Advisor Partners II LLC grew its position in shares of T. Rowe Price Group by 20.2% in the third quarter. Advisor Partners II LLC now owns 16,619 shares of the asset manager’s stock valued at $1,743,000 after purchasing an additional 2,796 shares during the last quarter. Graypoint LLC increased its stake in shares of T. Rowe Price Group by 34.7% during the 3rd quarter. Graypoint LLC now owns 2,448 shares of the asset manager’s stock worth $257,000 after purchasing an additional 630 shares in the last quarter. Simmons Bank raised 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 purchasing an additional 656 shares during the last quarter. Finally, Gradient Investments LLC lifted its stake in T. Rowe Price Group by 1,525.0% in the 3rd quarter. Gradient Investments LLC now owns 585 shares of the asset manager’s stock valued at $61,000 after buying an additional 549 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Down 0.2 %

TROW stock opened at $111.30 on Friday. The company has a market cap of $24.85 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.93 and a beta of 1.40. The business has a fifty day simple moving average of $115.22 and a 200-day simple moving average of $107.71. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.69 EPS. As a group, analysts expect that T. Rowe Price Group, Inc. will post 8.75 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be issued a dividend of $1.24 per share. The ex-dividend date is Friday, June 14th. This represents a $4.96 annualized dividend and a dividend yield of 4.46%. T. Rowe Price Group’s payout ratio is 58.91%.

Insider Buying and Selling

In other T. Rowe Price Group news, Director Freeman A. Hrabowski III sold 8,740 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the transaction, the director now directly owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the 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 directly owns 21,073 shares in the company, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Citigroup raised their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Evercore ISI cut their target price on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research note on Tuesday, April 30th. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and upped their target price for the company from $92.00 to $114.00 in a report on Monday, April 8th. JPMorgan Chase & Co. lifted their price target on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Finally, Wells Fargo & Company upped their price objective on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a research note on Friday, February 9th. Four research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat.com, T. Rowe Price Group has an average rating of “Hold” and a consensus target price of $112.10.

T. Rowe Price Group Company 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.