Heritage Investors Management Corp Trims Stock Holdings in T. Rowe Price Group, Inc. $TROW

Heritage Investors Management Corp lowered its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 9.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 144,012 shares of the asset manager’s stock after selling 14,784 shares during the period. Heritage Investors Management Corp’s holdings in T. Rowe Price Group were worth $14,744,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northern Trust Corp lifted its stake in T. Rowe Price Group by 6.4% in the third quarter. Northern Trust Corp now owns 2,529,116 shares of the asset manager’s stock valued at $259,588,000 after buying an additional 152,451 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of T. Rowe Price Group by 3.2% during the third quarter. Dimensional Fund Advisors LP now owns 2,090,249 shares of the asset manager’s stock worth $214,557,000 after purchasing an additional 64,791 shares during the last quarter. Caisse de depot et placement du Quebec raised its stake in shares of T. Rowe Price Group by 81.0% during the third quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock worth $134,142,000 after purchasing an additional 584,949 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of T. Rowe Price Group by 5.5% during the third quarter. Ameriprise Financial Inc. now owns 873,092 shares of the asset manager’s stock worth $89,614,000 after purchasing an additional 45,845 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its stake in shares of T. Rowe Price Group by 24.8% during the third quarter. Allianz Asset Management GmbH now owns 767,672 shares of the asset manager’s stock worth $78,794,000 after purchasing an additional 152,318 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insiders Place Their Bets

In related news, VP Stephon A. Jackson sold 3,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the transaction, the vice president owned 83,883 shares of the company’s stock, 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 SEC, which is available at this link. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TROW. Keefe, Bruyette & Woods upped their price target on T. Rowe Price Group from $95.00 to $107.00 and gave the stock a “market perform” rating in a research note on Friday, May 1st. Morgan Stanley set a $105.00 price target on T. Rowe Price Group in a research note on Monday, April 27th. BMO Capital Markets upped their price target on T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a research note on Monday, May 4th. Weiss Ratings restated a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Friday, May 8th. Finally, Argus upgraded T. Rowe Price Group to a “hold” rating in a research note on Thursday, February 5th. Eleven equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $99.54.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $101.95 on Friday. The business’s fifty day moving average price is $95.47 and its 200 day moving average price is $99.15. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $118.22. The firm has a market capitalization of $21.84 billion, a PE ratio of 10.93, a P/E/G ratio of 4.45 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the prior year, the company posted $2.23 earnings per share. T. Rowe Price Group’s quarterly revenue was up 5.3% on a year-over-year basis. Equities research analysts expect that T. Rowe Price Group, Inc. will post 9.61 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. Investors 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 yield of 5.1%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio is currently 55.73%.

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.